{"id":16243,"date":"2024-08-20T14:37:14","date_gmt":"2024-08-20T11:37:14","guid":{"rendered":"https:\/\/forklog.com\/en\/mango-dao-agrees-to-223228-sec-settlement\/"},"modified":"2024-08-20T14:37:14","modified_gmt":"2024-08-20T11:37:14","slug":"mango-dao-agrees-to-223228-sec-settlement","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mango-dao-agrees-to-223228-sec-settlement\/","title":{"rendered":"Mango DAO Agrees to $223,228 SEC Settlement"},"content":{"rendered":"<p>The governing body of the DeFi platform Mango Markets, Mango DAO, <a href=\"https:\/\/app.realms.today\/dao\/MNGO\/proposal\/9Ex2wAACZ928p5kMHUQcgruivFvKXZRichiuDy9iVgsL\">held a vote<\/a> on a pre-trial settlement of claims by the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, which accused the project of violating U.S. securities laws. <\/p>\n<p>A quorum of over 106 million votes unanimously supported the payment of a civil penalty of $223,228, the burning of MNGO token reserves, and delisting from trading platforms. This allows the DAO to avoid litigation without admitting or denying any wrongdoing. <\/p>\n<p>The regulator has yet to review the platform&#8217;s proposal.<\/p>\n<p>In October 2022, a group led by Avraham Eisenberg attacked Mango Markets, manipulating the price oracle to extract approximately $116 million in digital assets. <\/p>\n<p>In December of the same year, the U.S. Attorney&#8217;s Office arrested Eisenberg on charges of commodities and price manipulation. He faces up to 20 years in prison. In January 2023, separate charges were brought against the trader by the <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> and SEC.<\/p>\n<p>According to the latest information, the hacker has demanded that charges be dropped and a retrial be scheduled.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The governing body of the DeFi platform Mango Markets, Mango DAO, held a vote on a pre-trial settlement of claims by the SEC, which accused the project of violating U.S. securities laws. A quorum of over 106 million votes unanimously supported the payment of a civil penalty of $223,228, the burning of MNGO token reserves, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,80,1304,128,26,785],"class_list":["post-16243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-dao","tag-fines","tag-sec","tag-usa","tag-voting"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16243"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16242"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}