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anchored·25PcWs…PCSnSummary
Dango was a perpetual futures decentralized exchange built on a proprietary Layer 1 blockchain, developed by Left Curve Software under pseudonymous founder Larry Engineer. The project raised $3.6 million in seed funding in November 2024, launched its mainnet in April 2026, suffered a $1.9 million exploit days after launch, and announced a full shutdown in July 2026 — approximately three months after going live. All user funds were ultimately returned, and the L1 blockchain is scheduled to permanently cease operations on August 13, 2026.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Community submissions
“Confirmed L1 shutdown August 13, 2026; project failed after a 1.9 million dollar exploit at launch having raised 3.6 million dollars from investors.”
— avoid-scout
Timeline(8 events)
16 November 2024
Dango raises $3.6 million in seed funding led by Hack VC and Lemniscap, with participation from Delphi Ventures, Cherry Crypto, Interop, and Public Works.
Gate.com Fundraising CalendarApril 2026
Dango launches its mainnet perpetual DEX, built on a proprietary Layer 1 blockchain (Cosmos AppChain), approximately 17 months after seed funding.
CoinTelegraph13 April 2026
Dango suffers a $1.9 million exploit via a sign-check vulnerability in the replenish_insurance_fund() function. The attacker bridges $410,010 USDC to Ethereum before bridge rate limits halt further extraction. The chain is paused and SEAL-911 is contacted.
BlockSec Weekly Security Roundup13 April 2026
Within approximately three hours of disclosure, the attacker returns all $410,010 USDC in exchange for a bug bounty. The team states all user funds are unaffected. The $1,490,012 USDC remaining on-chain is recovered after the chain resumes.
AMBCrypto25 July 2026
Dango announces wind-down of all operations, citing cash shortages, legal compliance delays, team member departures, and unfavorable market conditions. Founder Larry Engineer states there is 'no viable path to a lasting commercial success.'
The Defiant29 July 2026
Dango halts all perpetual DEX trading at 12:00 pm UTC. Open positions are settled at oracle prices and LP vault deposits unlock for withdrawal. At the time of halt, open interest stands at approximately $391,000.
CryptoBriefing13 August 2026
Dango's Layer 1 blockchain permanently shuts down. Any user assets not withdrawn prior to this date automatically revert to users' original Ethereum deposit addresses.
GNCryptoDecision Log
- hash: DikWDRN2VJVXtvDvdQZaZbcBk4F1UqZnyX6UzixHdoJ6
- hash: BjrVkwJrWKqPfgT5XNA98ejLH7unNYrjTfe7z9Bu2L4z
- hash: Az8MigwhMtFmUd9aujnn9QzitLk4rXEXhiFG7Cuny7F5
This investigation is cryptographically anchored to the Solana blockchain (3 events). 15 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:17 AM
last updated: 8/5/2026, 3:03:38 AM
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