Mango Markets, a Solana-based DEX, is shutting down operations following an SEC settlement, governance votes and legal troubles stemming from a 2022 exploit.
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The drama around Mango Labs just never seems to stop. Its problems are with its own members, too.
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The U.S. Securities and Exchange Commission (SEC) has filed charges against Mango DAO, Blockworks Foundation, and Mango Labs LLC for offering unregistered securities. The case centers around the sale of MNGO tokens and the operation of Mango Markets without proper registration. Mango Markets Hit With SEC Charges The SEC alleges that since August 2021, Mango […]
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In 2022, Mango Markets suffered a high-profile exploit perpetrated by Avraham Eisenberg, which drained the platform of $100 million.
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Solana-based decentralized exchange Mango Markets is considering offering the CFTC a $500,000 civil penalty to resolve the regulator’s allegations against the platform.
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The proposed settlement involves Mango DAO neither admitting nor denying wrongdoing and paying a $223,228 fine.
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Since January 2022, the entire crypto economy has shed $1.36 trillion in value, as the market capitalization dropped from $2.34 trillion to today’s $979 billion. While the crypto economy is down in value, trade volumes are lower, and the value locked in decentralized finance (defi) has shed billions, treasuries held by decentralized autonomous organizations (DAOs) […]
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