Bitcoin

<a href="https://optimisus.com/market/market-news/mango-markets-exploiter-refuses-to-return-bug-bounty-paid-as-disputed-funds/" rel="noopener noreferrer nofollow">Mango Markets, a decentralized exchange (DEX)</a> on Solana, is set to pay a $223,228 penalty to the SEC as part of a settlement proposal to avoid further legal issues.The proposal includes halting all sales of MNGO tokens, destroying the DAO&#39;s remaining MNGO holdings, and requesting the removal of MNGO from all crypto exchanges and platforms where it is currently traded. The governance proposal is expected to pass unanimously, with 100% (295,244,521) of votes currently in favor.<a href="https://optimisus.com/market/market-news/mango-markets-exploiter-facing-regulatory-consequences-says-moodys/" rel="noopener noreferrer nofollow">Mango Markets</a> reached a total value locked (TVL) of nearly $200 million at its peak. However, in October 2022, Avraham Eisenberg manipulated the price of MNGO tokens, taking out a $120 million loan, leading to a sharp decline in MNGO&#39;s price and significant bad debt.The DOJ, CFTC, and SEC launched investigations into Eisenberg&#39;s actions, and he was arrested in December 2022 and charged with commodities fraud, manipulation, and wire fraud.Eisenberg&#39;s legal team is currently seeking either an acquittal or a new trial, arguing that the original trial was improperly held in the Southern District of New York.

Mango Markets DAO proposes a $224 settlement with the SEC

Optimisus

Other articles published on Aug 22, 2024

JUST IN! Binance Announces New Altcoin Listing on Futures! Price Skyrocketed!

Top Tap-to-Earn Games to Play in 2024

ChainGPT Plans Collaboration with Binance

WOMIO Unveils Presale Details, Aims to Revolutionize Memecoin Utility

Altcoins Flash Bullish Signal: Falling Wedge Breakout Looms

TRON revenue hits new ATH, price falls despite market-wide rally

Join our free newsletter for daily crypto updates!