The attacker has moved the funds out of the account: Live Coverage
The proposal is obsolete. We advise you to not vote or vote without conviction as to not lock up your tokens unneccessarily.
If you want to send a signal that you do not tolerate such behavior, we appreciate you voting with 0.1 weight, which results in no lockup.
11,700 KSM (~500,000 USD) were stolen from the Kusama DEX Mangata X.
Last week, a new type of governance attack targeted Mangata X. After the hostile takeover of the Mangata X on-chain Council, the attacker withdrew all KSM held by the Kusama DEX. It essentially meant the attacker cut off the life blood of the upcoming DEX and threatened to stop the growth trajectory, trust and liquidity of the DEX and erase the wealth of our community.
We cannot let thiefs stand in the way of our growing ecosystem!
Mangata stands up for fairness. We believe that we can build a better, more equitable DEX that provides a level playing field for everyone. Crypto can do better! We didn’t want to let this chance die and made a difficult decision. A decision that allowed the chain to remain operational and protected the funds of our users:
We replenished the stolen funds with 500,000 USD of our own money.
We provided full transparency to our community by publishing a detailed breakdown of the attack, our actions and an analysis in the Council Incident Report. We also reached out to other parachains, the Kusama Council and core developers of the ecosystem to let them know about this new type of attack and warn them to make sure all measures are taken to prevent such kind of an attack to happen again.
This was not only an attack on a single chain, it is an attack on the entire Kusama ecosystem.
Even though thousands of people are working in the ecosystem and hundreds of thousands are stakeholders, it is still in its infancy. It has an incredible potential to fuel the third stage of the crypto revolution, but needs to be carefully developed. Every chain has a role in this growing ecosystem. From Web3 to DeFi to GM chain. Everyone has an important role to fulfill to make Kusama a success. We need to lead this growth with ethics and values.
Today, we ask you to stand up against theft and for an ethical Kusama ecosystem that cares about its users.
We ask you to support our referendum to return the full amount from the attackers account back to Mangata X. This can be achieved if the Kusama community stands together and supports the referendum
Kusama needs to send a strong signal that it does not tolerate theft!
We believe that crypto is bigger than code is law. We believe that ethics and values can have a place in Polkadot and Kusama.
If you do believe the same, we invite you to join our journey. Follow our socials to stay in the loop:
The attacker can contact us on Element mangata_finance, Keybase mangata_finance, or Email [email protected]