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2026-06-25 00:01 1mo ago
2025-05-27 15:41 1yr ago
Soud zrušil odsouzení v kauze Mango Markets
MNGO Mango
CoinGecko News 78
Original source text
The Decentralised

A judge said prosecutors didn't prove Eisenberg defrauded Mango Markets in 2022.A jury convicted him on fraud and manipulation charges last year.Prosecutors said he manipulated Mango's token price to borrow $110m that he didn't intend to repay.A version of this article appeared in our The Decentralised newsletter on May 27. Sign up here.

The idea that “code is law” just won in a court of law.

Avraham “Avi” Eisenberg, who exploited the Solana-based Mango Markets protocol in 2022, was sentenced last month to over four years in prison for possession of child sexual abuse material.

But Eisenberg was also supposed to be sentenced that day for defrauding Mango Markets.

Prosecutors had sought a combined sentence of up to eight years for the child sexual abuse material and the fraud charges.

He had pleaded guilty to the former, and fought the latter in a 2024 trial.

A jury found Eisenberg, 29, guilty of fraud.

But he requested a new trial, arguing the government failed to prove that he had ever committed a crime in the Southern District of New York, where he was tried.

The government had also failed to prove MNGO tokens were commodities; that Eisenberg manipulated the price of MNGO perpetuals; that he defrauded Mango Markets; and that he had used an interstate wire, his attorneys said.

Indexed Finance hacker now says he’s a whitehat

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At his sentencing hearing, Judge Arun Subramanian said there was a “non-zero chance” he would grant Eisenberg’s request.

On May 23, it was granted.

The judge has vacated Eisenberg’s convictions on commodities fraud and commodities manipulation charges, and acquitted Eisenberg of his wire fraud charge.

Indeed, the government had failed to prove Eisenberg ever committed a crime in the Southern District of New York, the judge wrote in a 35-page order last week.

More interestingly, however, the judge also said Eisenberg couldn’t have defrauded Mango, a self-executing DeFi protocol, because he had merely taken advantage of a flaw in its design, and the service lacked any terms that forbade his behaviour.

Eisenberg exploited a flaw in Mango Markets’ design by trading with himself to inflate the value of the protocol’s token, MNGO.

Prosecutors say he was then able to use MNGO perpetuals as collateral to borrow crypto worth about $110 million from the protocol’s users with “no intention of repaying them.”

“There was no evidence at trial that Mango Markets required any user to promise that they would repay funds as a condition of borrowing against their assets, so this isn’t a case where ‘a contractual promise was made,’” the judge wrote.

Moreover, “there was no evidence that the ‘borrow’ function on Mango Markets entailed an obligation to repay—or any other obligation for that matter—even if that’s how the term is conventionally understood.”

The judge continued:

“In other contexts, a contractual agreement to ‘borrow’ might give rise to a claim of fraud if an individual intentionally misrepresents or omits something relevant to the terms of the agreement or the parties’ negotiations.”

Here, however, “there were no terms and no negotiations. There was just the word ‘borrow.’ That word could have been ‘access collateral,’ ‘utilize assets,’ or anything else for that matter.”

The government argues that by hitting the ‘borrow’ button, Eisenberg essentially “created the false impression that his collateral was valuable.”

That doesn’t check out, according to the judge.

“As Eisenberg points out, the platform automatically measured the actual value of his collateral, so he didn’t represent anything untrue.”

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Got a tip about DeFi? Reach out at [email protected].
2026-06-25 00:01 1mo ago
2025-06-20 05:03 1yr ago
Mango Network spouští airdrop 5 % z nabídky $MGO
MNGO Mango
CoinGecko News 78
Original source text
Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

Part of the Team Since

Jan 2024

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

June 20, 2025

Mango Network, a rising Layer 1 blockchain project, on Friday announced a community airdrop ahead of its Token Generation Event. The team will distribute 5% of its total $MGO supply to early users, testnet participants, and community contributors.

The eligibility checker is now live, where users can connect their wallets and complete a three-step process to confirm and eventually claim their rewards.

Distribution begins on June 24, with tokens issued in the order of claim.

To begin, users must “bind” their Twitter accounts, which involves linking their Twitter profile to Mango’s platform to verify their identity and activity. They must also follow BeingDEX, Mango’s ecosystem partner.

Mango Network TGE and Airdrop is coming. Check your eligibility for $MGO now!

Thank you for being with us every step of the way. You helped build this, and now it’s time to witness the rewards.

⚠️ Note: Claiming will open after TGE. Please be aware of scams.

— Mango Network (@MangoOS_Network) June 20, 2025 Airdrop Claiming Starts June 24, With Eligibility Based On Weighted PointsAfter linking their profile, users can proceed to verify their airdrop share. A countdown timer on the site marks the time left to confirm eligibility.

Then, users can view and confirm their airdrop share. Once confirmed, the final step will allow users to claim their rewards when the claim window opens at 17:50 UTC on June 24.

Unlike typical airdrops based solely on point totals, Mango uses a weighted system. Token allocation will reflect not just the number of points a user has, but also the quality of their testnet participation and any community roles they held, such as OG status.

All Tokens To Be Unlocked At Claim, With Caution Urged Against FraudAll tokens will be fully unlocked at the time of distribution. However, the team has urged users to remain cautious of scams. They said that only official Mango channels should be trusted for claiming instructions.

Meanwhile, Mango Network has positioned itself as a next-generation blockchain. It aims to solve two of Web3’s toughest problems — fragmented liquidity and poor user experience. To do this, the project uses a multi-VM, full-chain infrastructure. This design promises a smoother experience for both developers and users.

Now, with the airdrop underway, Mango is rewarding those who helped build its foundation. At the same time, it offers a glimpse into what the future of its ecosystem could look like.
2026-06-25 00:01 1mo ago
2025-06-23 06:28 1yr ago
Mango Network plánuje 1 miliardu MGO na airdropy
MNGO Mango
CoinGecko News 92
Original source text
Mango Network is gearing up to launch its token generation event with a total supply of 10 billion MGO. The token launch will begin with a two airdrop events with a 10% token allocation.

In an official post, the layer1 blockchain with multi-virtual machine support recently unveiled the tokenomics for its upcoming native token launch. Although the notice did not mention the exact date for the MGO token generation event, it has already scored listings on major crypto exchanges like Bitget, MEXC and KuCoin for June 24, 2024 09:00 AM UTC.

“As MangoOS_Network approaches its Token Generation Event (TGE), we’re thrilled to reveal the Mango Tokenomics!” wrote the network in its post.

According to the announcement, the network has prepared total token supply of 10 billion MGO. Around 10% of the tokens, essentially 1 billion MGO, will go to early supporters through airdrops. Around 5% of the tokens will be distributed via the testnet airdrop and 5% will be allocated for the mainnet airdrop.

“Half of the rewards are designated for the Testnet participants and active community contributors, while the other half is reserved for the future Mainnet Airdrop,” wrote the network.

One of the largest shares of the token supply will be allocated to maintaining the liquidity of the Proof-of-Stake staking pool, specifically 20% of the token supply. This is meant to incentivize validators and stakers to “ensure security and decentralization.”

Another 20% will go to the Mango Network Foundation, while 17% will be allocated to the Ecosystem Innovation Fund, which is aimed at rolling out tokens to support developers and ecosystem growth overtime. In addition, 15% of the token supply will be allocated to the Mango Network team and early contributors. Another 15% will go to investors.

Finally, Mango Network claimed that 3% of its token supply will go to advisors of the project.

All token allocations, including tokens received through the mainnet and testnet airdrops, will be subjected to an unlocking framework that spans more than seven years. This means that the token allocation will gradually unlock in trickles of 12 million tokens per year until it reaches completion after seven years.
2026-06-25 00:01 1mo ago
2025-06-23 14:29 1yr ago
Mango Network slibuje 297 450 transakcí za sekundu
MNGO Mango
CoinGecko News 78
Original source text
The blockchain industry continues to grapple with fundamental scalability and interoperability challenges that have persisted since Ethereum's early days. High transaction fees, slow confirmation times, and isolated ecosystems create barriers preventing mainstream adoption of decentralized applications. Mango Network, a new Layer 1 blockchain built by MangoNet Labs, claims to solve these problems through an ambitious technical architecture that combines multiple virtual machines, cross-chain functionality, and throughput capabilities that dwarf existing solutions.

With $13.5 million in funding, Mango Network promises to process 297,450 transactions per second with 380-millisecond finality while supporting both Ethereum Virtual Machine (EVM) and Move Virtual Machine (MoveVM) in a unified ecosystem. These bold claims arrive alongside the project's Token Generation Event on June 24, 2025, when $MGO tokens begin trading on Bitget, MEXC, and KuCoin at 09:00 AM UTC.

But technical specifications alone don't guarantee success in the competitive Layer 1 landscape. This analysis examines Mango Network's architecture, tokenomics, and real-world potential to determine whether it represents genuine innovation or another case of blockchain hype exceeding reality.

Technical Architecture: Multi-VM InnovationThe Move Programming Language AdvantageMango Network implements "Mango Move," an enhanced version of the Move programming language originally developed by Facebook for the Diem project. Move was designed specifically for digital assets, treating tokens and NFTs as "first-class citizens" in the programming model.

This resource-oriented approach provides several critical advantages:

Ownership Safety: Digital assets are represented as resources that cannot be copied or implicitly discarded, preventing double-spending attacksStatic Typing: Every variable's type is known at compile time, eliminating entire categories of runtime bugs that have plagued other smart contract platformsFormal Verification: The Move Prover tool mathematically verifies smart contract behavior before deployment, allowing developers to specify contract logic in formal termsModular Design: Smart contracts can be safely upgraded and composed without breaking existing functionalityDual Virtual Machine ImplementationWhile Move provides superior security for financial applications, Mango Network recognizes that most existing DeFi protocols and tools are built for the Ethereum Virtual Machine. Rather than forcing developers to choose between security and compatibility, Mango implements both EVM and MoveVM within the same blockchain.

This dual-VM approach works through parallel execution, allowing EVM-based applications to operate alongside Move-based contracts without interference. Each VM maintains its own state space while sharing the underlying blockchain infrastructure. Mango's OP-Mango Layer 2 solution facilitates communication between EVM and MoveVM environments through standardized event capture and data serialization protocols.

The platform implements sophisticated resource allocation to prevent one VM from monopolizing network capacity. Transaction fees and execution limits are balanced across both environments to maintain fair access, while both virtual machines access a shared data availability layer to ensure state changes in one environment are visible to the other when needed.

Modular ArchitectureTraditional blockchains bundle multiple functions into single systems that become difficult to optimize. Mango separates four core functions: execution handles smart contract computation, consensus manages validator coordination through DPoS, settlement provides final transaction confirmation, and data availability stores transaction information across the network.

This separation allows each component to optimize independently while maintaining system integrity. The claimed 297,450 TPS throughput depends on this modular design, though real-world performance often differs from theoretical maximums.

Mango’s chain infrastructure (official website)Cross-Chain Infrastructure and Zero-Knowledge IntegrationCross-Chain Infrastructure and Privacy FeaturesOP-Mango powers cross-chain functionality by processing transactions off-chain in batches before submitting results to networks like Ethereum. The system uses $MGO tokens as gas for cross-chain operations, includes fraud proof mechanisms, and enables asset transfers between different blockchains while maintaining security through cryptographic verification.

Privacy and Storage FeaturesThe platform incorporates ZK-SNARK and ZK-STARK technologies for privacy-preserving transactions and cross-chain transfers. Users can trade anonymously or move assets between chains without revealing transaction details. The platform also uses decentralized storage with data backups and economic incentives for storage providers who earn $MGO tokens for maintaining data availability.

MgoDNS represents the platform's decentralized domain name system that bridges traditional internet and blockchain environments. The system can resolve standard internet domain names while adding blockchain-specific features. For example, a single domain name like "alice.mgo" could resolve to wallet addresses on multiple different blockchains. Smart contracts can also automatically update these domain resolutions based on programmed conditions.

Tokenomics Deep DiveDistribution Strategy and Economic ModelThe $MGO token's 10 billion total supply with immediate full unlock represents a significant departure from typical token release schedules. This strategy reflects specific theories about token velocity and network adoption but creates substantial economic risks.

The comprehensive distribution allocates tokens across eight categories. The Foundation receives 20% (2 billion tokens) for long-term development and operations, while the POS Stake Pool gets an equal 20% for network security and validator rewards. The Ecosystem Innovation Fund holds 17% (1.7 billion tokens) for dApp development and partnerships, indicating serious commitment to ecosystem growth.

Private investors receive 15% (1.5 billion tokens) from the $13.5 million funding round, which means these tokens face immediate unlock and potential selling pressure. The team and early contributors also get 15%, which raises questions about long-term alignment incentives given the lack of vesting schedules.

Community airdrops represent 10% of the total supply, split equally between testnet (500 million tokens) and mainnet (500 million tokens) participants. Claims open at 17:50 UTC on June 24, 2025, on a first-come, first-served basis.

Advisors receive the smallest allocation at 3% (300 million tokens), suggesting they provide primarily strategic rather than operational value.

Token Utility and Value DriversThe $MGO token serves multiple functions that should create various sources of demand:

Transaction Fees: All network operations require $MGO for gas, creating baseline demand that scales with network usageCross-Chain Operations: OP-Mango uses $MGO as universal gas for cross-chain transactions, potentially driving significant demand as interoperability growsNetwork Security: Validators must stake $MGO to participate in consensus, removing tokens from circulation while earning staking rewardsGovernance Rights: Token holders vote on protocol changes and parameter updates, giving $MGO value beyond pure utilityEcosystem Integration: Various protocols within Mango may incorporate $MGO into their own tokenomics, creating additional demand sourcesHowever, the immediate unlock strategy creates several economic risks. Ten billion tokens entering circulation simultaneously could overwhelm demand, particularly if early participants rush to realize profits. The large ecosystem fund allocation assumes rapid adoption and development activity, but if ecosystem growth lags expectations, these tokens could become a prolonged source of selling pressure.

Competitive Analysis and Market PositioningLayer 1 Competition LandscapeMango Network enters a crowded Layer 1 market where established players maintain significant advantages through developer adoption, total value locked, and ecosystem maturity. Ethereum retains the largest developer ecosystem despite high fees and scaling challenges, while Solana offers high throughput with a proven track record, though it has faced network stability issues.

Move-based competitors Aptos and Sui both use variations of the Move programming language with different approaches. Mango's dual-VM approach differentiates it from these competitors but also adds complexity.

The platform's claimed 297,450 TPS represents a significant improvement over most existing networks, but these theoretical maximums require validation under real-world conditions. Mango's omni-chain vision competes with established interoperability solutions like Cosmos and Polkadot, which offer cross-chain functionality through different technical approaches. Success will depend on whether Mango's integrated approach provides meaningful advantages over existing solutions and whether developers find the multi-VM architecture compelling enough to overcome the momentum of established platforms.

Security Audit and Development TeamProfessional Security ReviewMango Network underwent comprehensive security audits by MoveBit, a recognized blockchain security firm. The project completed two separate audits: a core network audit (April 7-19, 2024) and a dedicated bridge audit (December 9, 2024 - January 6, 2025), demonstrating thorough security coverage across all critical components.

The core network audit employed multiple testing methodologies including dependency checks, static code analysis, fuzz testing, and manual code review. Results were notably positive, with only two issues identified - zero critical vulnerabilities, one major issue, and one informational finding. Both issues were resolved before mainnet launch.

The bridge audit was more comprehensive, identifying seven issues across different severity levels, including one critical vulnerability related to signature replay attacks. However, all seven issues were successfully fixed before deployment. The bridge audit covered cross-chain functionality between Sui, Ethereum, and Mango chains, ensuring secure asset transfers across the platform's multi-chain architecture.

MoveBit's reviews covered execution layers, consensus mechanisms, cross-chain infrastructure, and external dependencies, providing confidence in the platform's security foundation across both core functionality and critical bridge operations.

Development Team and LeadershipThe project maintains transparency through visible leadership, including CEO Benjamin Kittle and CTO David Brouwer. Brouwer brings relevant technical expertise in Move programming and high-performance systems development. The team's commitment to open-source development is evident through their active GitHub repository with multiple branches and version tags, indicating ongoing development activity.

The development process emphasizes academic research and formal verification tools, with Move Prover being actively maintained as an open-source component. This approach aligns with the technical rigor required for the platform's ambitious multi-VM architecture.

Ecosystem Applications and Adoption StrategyDeFi and Cross-Chain Use CasesTraditional DeFi operates in a multi-chain environment where protocols deploy separate instances on different blockchains, creating liquidity silos and forcing users to manage assets across multiple environments. Mango Network's omni-chain approach promises unified liquidity pools that can access assets from multiple blockchains simultaneously.

For example, a lending protocol on Mango could theoretically accept Bitcoin collateral, Ethereum-based tokens, and Solana assets within the same pool, dramatically expanding available liquidity. However, this vision requires solving challenges around asset price synchronization, bridge security, and regulatory complexity across multiple jurisdictions.

The platform's high throughput and low fees also make it suitable for gaming applications that require frequent microtransactions. Dynamic NFTs that change properties based on player actions or cross-game interactions become feasible, potentially creating shared gaming economies where assets move between different games.

Enterprise Integration PotentialMgoDNS represents the platform's decentralized domain name system that bridges traditional internet and blockchain environments. The system can resolve standard internet domain names while adding blockchain-specific features. For example, a single domain name like "alice.mgo" could resolve to wallet addresses on multiple different blockchains. Smart contracts can also automatically update these domain resolutions based on programmed conditions.

Companies could potentially manage tokenized assets through familiar web interfaces backed by blockchain security, or integrate blockchain tracking into existing supply chain systems without complete infrastructure overhauls. However, enterprise adoption typically requires proven security track records and regulatory clarity that new platforms lack.

The success of these applications depends on more than technical capability. User experience factors, regulatory compliance, and integration with existing business processes often determine adoption rates more than underlying technical performance.

Investment Analysis and Risk AssessmentBull Case for Mango NetworkThe platform addresses real problems in current blockchain infrastructure through technical innovation that, if executed successfully, could provide sustainable competitive advantages. Growing demand for cross-chain functionality creates market opportunities for platforms that deliver seamless omni-chain experiences.

Positive Development IndicatorsThe platform demonstrates several encouraging signals for potential success. The MoveBit security audits, with minimal findings, suggest solid code quality and development practices. The $13.5 million funding provides adequate resources for ecosystem development, while the substantial ecosystem fund allocation indicates a serious commitment to attracting developers and applications.

Active GitHub development with multiple branches and regular commits shows ongoing technical progress. The team's emphasis on formal verification through Move Prover and academic research references suggests a rigorous approach to blockchain development that could appeal to institutional users and serious DeFi protocols.

The blockchain infrastructure market continues to grow rapidly, with room for multiple successful Layer 1 platforms serving different use cases and user segments. If Mango can prove its technical claims and attract quality developers, it could capture significant market share in the cross-chain and high-performance blockchain segments.

Risk Factors and ConcernsThe technical complexity of supporting multiple VMs and seamless cross-chain functionality creates significant execution risk. Many blockchain projects fail to deliver on ambitious technical promises, and Mango's scope increases both potential impact and failure risk.

Established Layer 1 platforms have network effects, developer mindshare, and institutional relationships that will be difficult to overcome regardless of technical superiority. The immediate unlock of all tokens creates significant downside risk and suggests either overconfidence in immediate adoption or inexperience with token economic best practices.

Cross-chain functionality and privacy features may face regulatory challenges that could limit adoption or require costly compliance modifications. The Layer 1 blockchain market may also be approaching saturation, with limited room for new entrants to achieve meaningful market share and developer adoption.

ConclusionMango Network presents a technically sophisticated approach to Layer 1 blockchain infrastructure through its multi-VM architecture, comprehensive cross-chain functionality, and strong security foundation. The platform's clean audit results from MoveBit, transparent development practices, and substantial funding provide a solid foundation for ecosystem growth.

While the immediate token unlock strategy and competitive market dynamics present challenges, the project's technical innovations address real problems in current blockchain infrastructure. The combination of Move programming language security, EVM compatibility, and omni-chain capabilities could provide meaningful advantages if properly executed and adopted.

The June 24, 2025 token launch will provide important market feedback on investor and user interest. Early performance metrics, developer adoption rates, and the platform's ability to deliver on its high-throughput promises will be key indicators of long-term viability and success in the competitive Layer 1 landscape.

For more information about Mango Network and airdrop eligibility, visit mangonet.io, or for updates, follow @MangoOS_Network on X.