With more than 98% of tokens voting in favor of the deal, the hacker appears likely to keep $47 million as a bug bounty.
The proposal has been questioned at the governance forum as well, as stated by one voter:
"Agree 100% that making users funds whole ASAP is the top priority but a $50m"bug bounty" is ridiculous. At most the exploiter should get their costs back plus $10m. $10m whitehat bounty is what was offered to the $600m wormhole hacker. Mango can negotiate better than this, especially given the exploiter is essentially doxed."
The hacker performed the attack by manipulating the value of the MNGO native token collateral, then taking out “massive loans” from Mango’s treasury. After draining the funds, the hacker, filling a proposal on the Mango Market's decentralized autonomous organization forum asking for $70 million at that time.
Moreover, the hacker has voted for this proposal using millions of tokens stolen from the exploit. On Oct. 14, the proposal reached the required quorum to pass. In exchange for the settlement, the hacker requests that users who vote in favor of the proposal agree to pay the bounty, pay off the bad debt with the treasury, waive any potential claims against accounts with bad debt and not pursue any criminal investigation or the freezing of funds.
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