US authorities charges Mango Market exploiter with fraud 

Trending 9 months ago

United States prosecutors connected Monday filed criminal charges of commodities fraud and manipulation against Avraham Eisenberg for allegedly trying to bargain $110 cardinal from Mango Markets, a DeFi protocol.

While successful a Federal Manhattan tribunal connected Monday, Avraham admitted to rigging $110 cardinal successful investors’ funds from the decentralized speech tally by Mango DAO.

In a signed deposition, FBI Special Agent Brandon Racz alleged that Eisenberg, connected October 11, manipulated the merchantability of futures contracts on Mango Markets arsenic a commodity “willfully and knowingly.”

He besides engaged successful a strategy involving the intentional and artificial manipulation of the terms of perpetual futures contracts. Investigators besides added that helium carried retired different manipulative and deceptive actions that yet led to his amerciable withdrawal of $110 cardinal of users’ funds.

His actions led to the insolvency of Mango arsenic the DEX struggled to negociate the devastating effects of his manipulations done negotiations. 

Eisenberg had agreed to instrumentality $67 cardinal to the DAO assemblage successful 1 of his tweets. Mango DAO initiated plans to usage the returned funds to settee each users affected by Avraham Eisenberg’s heist. 

Eisenberg’s December apprehension and tribunal filing person elicited galore celebratory memes from victims successful the Mango Markets’ Discord server. His apprehension volition marque him the archetypal American to look charges for rigging a DeFi platform. 

Meanwhile, Mango speech is yet to marque authoritative statements regarding his arrest. 

Source Cryptonews