Mango Markets, a decentralized exchange on Solana, is shutting down after settling with the SEC and voting on internal changes. The SEC accused Mango of selling unregistered securities worth $70 million in 2021. As part of the settlement, the company will pay a $700,000 fine, destroy MNGO tokens, and request exchanges to remove them from their platforms. Additionally, the platform was affected by a hack in 2022, when trader Eisenberg withdrew $100 million, returning only a portion of the funds.
1/13/2025 11:15:57 AM (GMT+1)
Mango Markets is shutting down after settling with the SEC: a $700,000 fine, destruction of MNGO tokens, and the consequences of a $100 million hack in 2022, which led to financial troubles 🚫
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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