Mango Markets faced a settlement with the SEC for selling unregistered tokens and paid a $700,000 fine.
The platform was hit by a major exploit in 2022, losing over $100 million, which further damaged its reputation.
After months of legal issues, Mango Markets decided to close, ending its operations in early 2025.
Mango Markets, a decentralized exchange (DEX) on the Solana blockchain, is closing down after facing legal problems. Which is including a settlement with the US Securities and Exchange Commission (SEC). The platform was launched in August 2021 and was meant to provide fast and affordable trading and borrowing using its MNGO token.
However, things took a turn when the SEC filed charges against Mango DAO, the platform’s governing body, in September 2024. The SEC accused Mango of breaking securities laws by selling unregistered MNGO tokens during a fundraising round in 2021. Which raised over $70 million. As part of the settlement, Mango agreed to pay a $700,000
We współpracy z: https://thenewscrypto.com/mango-markets-closes-operations-after-sec-settlement/
