NY Federal Court to Commerce Trial against Mango Markets Exploiter in $116M Theft Case

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NY Federal Court to Commerce Trial against Mango Markets Exploiter in $116M Theft Case

A court in New York is gearing up to commence trial against Mango Markets exploiter Avraham Eisenberg for stealing over $116 million from the Solana-based decentralized finance (DeFi) protocol in October 2022.

The alleged criminal was indicted by the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) last year for fraud related to market manipulation, wire fraud, and securities law violations concerning the exploitation of Mango Markets.

Authorities claim Eisenberg artificially manipulated the price of certain perpetual futures contracts on the Solana-based margin trading and lending platform.

The Genesis: How It Began

The genesis of the case dates back to October 2022 when the Mango Markets faced a massive exploit that resulted in the loss of around $117 million belonging to user fund...


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NY Federal Court to Commerce Trial against Mango Markets Exploiter in $116M Theft Case