MyAlgo Hack

TOTAL LOST $9.2M
Medium Cloudflare Key Compromised algorand

Summarize with AI

Affected Chain algorand Incident surface
Recovered - No recovery reported
All-Time Rank #320 By amount stolen
Year 2023 Incident year

Incident Overview

Mango (MNGO) is a cryptocurrency launched in 2021and operates on the Solana platform. Mango has a current supply of 1,117,466,989.397395. The last known price of Mango is 0.03182695 USD and is up 1.82 over the last 24 hours.

It is currently trading on 36 active market(s) with $1,416.15 traded over the last 24 hours. More information can be found at https://mango.markets/.

Incident Report

Protocol / Project MyAlgo
Date of Incident
Affected Chain(s) algorand
Attack Technique Cloudflare Key Compromised
Classification Infrastructure
Primary Source View Post-Mortem

Protocol Information

Smart Contract Language Javascript
Official Website mango.markets/
Protocol Twitter/X @mangomarkets

Market Context at Time of Hack

Token Categories
Decentralized Exchange (DEX) Token DeFi Derivatives DAO DEX Governance Solana Ecosystem Alleged SEC Securities

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Operational-security tradecraft (phishing, malware, leaked seed phrases, or insider access) to obtain treasury signing authority
Capital Required Minimal capital - only enough to cover gas while draining the compromised accounts
On-Chain Access Valid signing authority over the compromised wallets / multisig signers, allowing direct transfer of funds or stake authorization
Target Reconnaissance Identification of MyAlgo's high-value treasury accounts and the authority / multisig structure controlling them
Execution Speed Speed to drain the compromised accounts before the team detects the breach and revokes signing authority or freezes the assets
Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Likely — with a thorough Cloudflare Key Compromised audit checklist and test coverage

If you're auditing a protocol with similar architecture to MyAlgo, these are the critical security checks that could have prevented this incident (February 2023).

  • Verify all logic paths related to Cloudflare Key Compromised are guarded by proper access controls and input validation
  • Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

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Sources & References

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