Yes, originally their exchange ran on Binance Cloud, using Binance's liquidity pool.
After Binance sjut down their cloud exchange program, Mandala pivoted to independant exchange. If you had an account on the old Mandala exchange, it wouldn't work with the new one. You need to create an account again on the new Mandala exchange.
This sounds shady and $1000 daily limit is very low compared to other non-kyc exchanges I know.
It's also strange that I can't find this new Mandala exchange listed on CoinGecko website anymore, but they are listed on CoinMarketCap website.
I would not risk any trading with this Mandala.
CoinMarketCap is still listening Hitbtc so it doesn't surprise me if they list other unreliable and badly reputed exchanges (if Mansala is really one of them). Hitbtc still doesn't need KYC afaik, but it's a very dangerous and scammy exchange, Yobit also doesn't require KYC up to now but they are also not well reputed at all. I think the most famous are HTX, MEXC and Poloniex as listed above. It's sad to see that so few exchanges not requiring KYC remain tbh