The Solana ecosystem has suffered a large-scale attack, with hackers cleverly exploiting market mechanisms to profit over 100 million USD.

Recently, a decentralized trading platform in the Solana ecosystem experienced a significant security incident, resulting in losses of up to $116 million. This attack not only showcased the Hacker's technical prowess but also highlighted their profound understanding of decentralized finance (DeFi) and decentralized autonomous organization (DAO) mechanisms.

The attacker adopted a complex "price manipulation" strategy. Specifically, the Hacker used two accounts with a total initial capital of 10 million USDT. First, 5 million USDC was deposited into the target platform. Then, a large position of 483 million was created in the MNGO-ERP market. Next, through another account, a counter trade was conducted, artificially raising the price of MNGO from $0.0382 to $0.91. This operation caused the attacker's account value to soar to approximately $423 million, thereby gaining over $100 million in borrowing capacity.

Unlike previous attack incidents, this time the Hacker displayed a unique "dramatic" approach. They submitted a proposal through the platform's governance system, attempting to negotiate with the project team. The proposal included a request for the project team to use $70 million of treasury funds to repay users' bad debts. In exchange, the Hacker promised to return a portion of the stolen funds and requested immunity from criminal investigation and asset freezing.

Currently, the proposal has received 32.9 million votes in support, most of which come from the hackers' own votes. However, there is still a considerable distance from the required threshold of 67.09 million votes for approval.

In response to this situation, the project party stated that they are taking measures to address it, including attempting to freeze liquidity and suspend deposit functions. They also publicly expressed their willingness to communicate with the attacker to seek a "constructive solution." The project party emphasized that their top priority is to prevent further losses, ensure the safety of user funds, and salvage the project's value as much as possible.

This incident has once again raised concerns about the security of DeFi, while also showcasing the hacker's deep understanding of decentralized systems. Regardless of the final outcome, this will become an important case study in security research within the cryptocurrency field.