Crypto news outlet Coinjiezhi reports that Dango blockchain announced it will shut down its network on August 13 and pause trading on its perpetual decentralized exchange (DEX) on Wednesday. Dango founder Larry Liu said the team faces multiple difficulties, including a cash shortage, legal challenges, team member departures, and a broader market environment, which has prevented it from achieving sustainable business success. Dango launched its mainnet in January and rolled out its perpetual DEX in April, but soon after going live it suffered an attack worth about $410k.

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