Mango Markets Agrees to Destroy MNGO Tokens in SEC Settlement
Mango DAO, Mango Labs and Blockworks Foundation agreed to settle charges with the U.S. Securities and Exchange Commission Friday.
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Mango Markets
Mango DAO, Mango Labs and Blockworks Foundation agreed to settle charges with the U.S. Securities and Exchange Commission Friday.
Decentralized crypto exchange Mango Markets has already weathered a debilitating multimillion-dollar hack and the expensive regulatory investigations it spawned. The group may soon take another blow: a six-figure settlement with the Commodity Futures Trading Commission (CFTC).
Mango Markets’ governing body is looking to offer a settlement to the SEC.
Avi Eisenberg’s centi-million dollar exploit of the decentralized Mango Markets trading platform revealed the perverse incentives of bug bounties.
NEW YORK – A Manhattan jury has found crypto trader Avi Eisenberg guilty on fraud and market manipulation for his $110 million heist from decentralized finance protocol Mango Markets in October 2022.
Crypto trader Avi Eisenberg’s fate now rests in the hands of 12 New York jurors, who have been tasked with deciding whether his October 2022 trades on Mango Markets – which netted him $110 million – were fair game or fraud.
The crypto trader is facing up to 20 years in jail if convicted on all counts.
The two-week trial will test the government’s strategy of portraying complex crypto trades as simple fraud.
The decentralized crypto exchange (DEX) is facing “inquiries” in the United States stemming from an October 2022 heist, according to posts in the project’s Discord server. Now the DEX’s governing body, called MangoDAO, is voting on whether to appoint a representative who can triage “U.S. regulatory matters” on its behalf.
Crypto trader Avi Eisenberg’s trial will start in April 2024 after defense and prosecutors agreed to delay the proceeding, first scheduled for December.