28-year-old Avraham "Avi" Eisenberg found guilty of cryptocurrency manipulation, stealing $110M from Mango Markets.
28-year-old Avraham "Avi" Eisenberg has been found guilty of fraud, commodities manipulation, and wire fraud in the first US trial involving criminal charges related to cryptocurrency manipulation. In October 2022, Eisenberg exploited Mango Markets rules to steal $110 million from the decentralized finance platform by artificially inflating the price of Mango's token and contracts related to its value relative to a stablecoin called USDC, and "borrowing" against his inflated holdings. Sentencing is set for July 29.
April 17, 2024
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