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Avraham Eisenberg Charged with Fraud, Market Manipulation

Avraham Eisenberg Charged with Fraud, Market Manipulation

The DOJ uses other words to describe Eisenberg’s “highly profitable procuring and selling blueprint.”

Key Takeaways

  • Avraham Eisenberg was as soon as arrested in Puerto Rico the earlier day.
  • He’s accused of commodities fraud and market manipulation.
  • Eisenberg and his team hang been at the help of the $100 million Mango Markets exploit.

Avi Eisenberg can hang been too suave for his have correct when he publicly printed he was as soon as accountable for the Mango Markets exploit in October. It seems the FBI was as soon as listening.

“A Highly Winning Shopping and selling Technique”

The Division of Justice has moved in opposition to any other notorious crypto figure.

Avraham Eisenberg was as soon as reportedly apprehended by regulation enforcement the earlier day in Puerto Rico for his role within the Mango Markets exploit that made him properly-known on Crypto Twitter in October. The affidavit signifies that Eisenberg is facing one depend of commodities fraud and one depend of commodities manipulation. 


Mango Markets is a decentralized perpetual change on Solana. On October 11, Eisenberg and his procuring and selling companions took out a plentiful self-discipline in Mango’s perpetual futures contracts, thereby artificially inflating the rate of the illiquid MNGO token from $0.3 to $0.91. They then inclined their necessary unrealised earnings as collateral to borrow the protocol’s sources, and drained over $100 million from its treasury.

The exploiters therefore submitted a proposal within the Mango governance forum to present help the bulk of the funds (and which means fact plan Mango depositors total) in change for $47 million and the promise of losing any prison investigation. Shortly after the proposal passed, Eisenberg announced on Twitter that he had been accountable for the exploit, famously declaring that he had “operated a highly profitable procuring and selling blueprint” the earlier week. 

Eisenberg’s open and brazen attitude may perchance perchance now not hang executed him any favors. The affidavit in opposition to him particularly mentions Eisenberg’s “highly profitable procuring and selling blueprint” tweet, along with various others that expose that Eisenberg was as soon as conscious of regulations prohibiting market manipulation. 

Up to now, the case in opposition to Eisenberg entirely considerations the Mango Markets exploit; alternatively, the trader is also suspected by the crypto neighborhood of having lope identical schemes on Curve, Fortress DAO, and Solend. Extra indictments may perchance perchance be on the methodology.

Disclaimer: On the time of writing, the author of this fragment owned BTC, ETH, and various different other crypto sources.

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