Mango Markets was a decentralized finance (DeFi) platform governed by a decentralized autonomous organization (DAO) that allowed users to borrow, lend, and trade cryptocurrencies which ceased operations after a $110 million exploit in October 2022

Quotes that support claims

In their filing, prosecutors emphasized the severity of Eisenberg’s actions, stating that his scheme not only defrauded investors of over $100 million but also forced Mango Markets to shut down.

Eisenberg, a self-described “applied game theorist,” was found guilty last year of commodities fraud, manipulation and wire fraud for trading that boosted the price of futures contracts by 1,300% in 20 minutes on Oct. 11, 2022.

Mango Markets, which lets people borrow, lend and trade cryptocurrencies, was overseen by a decentralized autonomous organization, or DAO