Mango Markets to Make Settlement Offer with SEC
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Mango Markets, a Solana-based decentralized exchange, is considering a settlement with the SEC over alleged securities law violations.
The platform’s DAO has initiated a vote on a settlement proposal that includes paying fines, destroying its MNGO tokens, and seeking delisting from trading platforms. The proposal has already secured overwhelming support from the DAO.
Mango Markets has faced significant challenges since October 2022 when it suffered a $110 million exploit orchestrated by trader Avraham Eisenberg.
Eisenberg was subsequently found guilty of fraud and manipulation in a criminal trial.
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