Mango DAO used treasury funds to compensate hack victims through a buyback program, but critics claim it was done to benefit an FTX estate buyer.
An April 7 plan to buy back tokens at a premium to market price has led to controversy within the governing body of decentralized finance protocol Mango Markets.
Some community members claimed that the buyback was orchestrated to benefit the buyer of the FTX estate’s stash of MNGO tokens. These tokens were transferred from FTX to an anonymous account only a few days before the plan was proposed, implying that they may have been purchased as part of an over-the-counter deal.
Critics of the plan accused its originator, DonDuala, of being connected to the FTX buyer. DonDuala did not comment on this accusation within the Discord forum.