Mango Markets Exploit · interactive mechanism simulation

A trader spikes the thin MNGO oracle price, which inflates his cross-margin collateral, letting him borrow out the protocol's real deposits before the price reverts.
Attacker long + short MNGO-PERP MNGO spot market $0.03 Price oracle reports $0.03 Cross-margin engine collateral: $0 Protocol treasury $100.0M deposits Attacker wallet $0.0M extracted
MNGO oracle price
$0.030
Phantom collateral
$0.0 M
Extracted from treasury
$0.0 M
Treasury remaining
$100.0 M
Parameters — edit me
$3.0M
$2.0M
100%
2.0/s
Controls

Illustrative simulation. Defaults mirror the researched mechanism (thin MNGO liquidity, cross-margin collateral, ~2,300% oracle spike, ~$110-116M drained), but trade sizes and timing are randomized for visualization — not live on-chain data. Lower "MNGO market liquidity" or raise "borrow cap" and re-trigger to see the drain worsen. Part of The Onchain Experiment Atlas.