Background

Why This One Crypto Bro Just Got Slapped With a $700k Fine for Trying to Pull the Oldest Trick in the Book… Again!

A  illustration depicting a giant hand slapping a crypto bro in the face with a $700k fine notice attached to it. The background is filled with falling MNGO tokens, while Mango Markets and Blockworks Foundation logos are scattered around as debris.

It’s official: another crypto bro has been caught with his hand in the cookie jar… and it just so happens to be a $700,000 fine! Mango DAO thought they could get away with selling unregistered MNGO tokens as ‘governance assets’, but nope, not on our watch. The SEC is cracking down on these crypto scams like never before (finally!), and I couldn’t be happier about it.

Source: bitcoin.com

The U.S. Securities and Exchange Commission (SEC) has filed charges against Mango DAO, Blockworks Foundation, and Mango Labs LLC for offering unregistered securities. The case centers around the sale of MNGO tokens and the operation of Mango Markets without proper registration. The SEC alleges that since August 2021, Mango DAO, a decentralized autonomous organization (DAO), and Blockworks Foundation, based in Panama, raised over $70 million from the unregistered sale of […]

Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

We are the internet’s finest destination for poking fun at the wild world of cryptocurrency! We transform the bewildering jargon and frantic hype of the crypto market into a comedy spectacle that’s almost as volatile as crypto itself.

© 2024 Cryptobro Magazine