Dango, a perpetuals exchange built on its own Layer-1 blockchain, announced on July 24 that it would shut down, halting trading on July 29 at noon UTC and switching off its chain on August 13. The startup Left Curve Software, founded by pseudonymous developer Larry Engineer, had raised $3.6 million in November 2024 from Hack VC, Lemniscap and Delphi Ventures. The protocol suffered an attack on April 13, when a hacker exploited a flaw in the insurance fund’s donation logic to drain USDC collateral, but the funds were fully recovered. At the time of the announcement, Dango held $1.77 million in total value locked, with approximately $500,000 in open interest and $239 million in 30-day volume.
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