In October 2022, Mango, a cryptocurrency company, refunded approximately $67 million of its funds to users and claimed that their actions were legal as part of a “highly profitable trading strategy.” The company’s move has generated both support and controversy within the cryptocurrency sector.
The cryptocurrency market attracts various investors due to its high volatility and potential gains. Mango is a platform that offers users the opportunity to invest in and trade cryptocurrencies. The company utilizes a range of automated trading strategies to manage users’ investments and generate profits.
In October 2022, Mango refunded a portion of users’ funds, amounting to approximately $67 million. The company defined this payment as part of a “highly profitable trading strategy.” Mango argued that users utilized their platform to trade profitably, and therefore, the refund of funds was fair and legal.
Mango’s move has sparked debates within the cryptocurrency community. While some users supported the company’s actions, others expressed doubts regarding the legality and ethical dimensions of Mango’s automated trading strategies. The high volatility of cryptocurrency currencies can result in users either profiting or incurring losses, necessitating an examination of the ethical and legal aspects of trading strategies.
While refunding users, Mango claimed that utilizing their platform and earning profits was legal. The company emphasized that their automated trading strategies were transparent and beneficial to their users.