Mango Markets exploit

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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
Avraham Eisenberg was found guilty by a U.S. jury in April 2024 of wire fraud market manipulation for artificially inflating the price of Mango Markets’ MNGO token and using the inflated value as collateral to withdraw $110 million in cryptocurrency
Avraham Eisenberg, shortly after the October 2022 exploit that drained $110 million from Mango Markets, publicly identified himself as the perpetrator and described the event as a “highly profitable trading strategy” executed within the bounds of the protocol’s intended design
Mango Markets, on October 11, 2022, suffered an exploit in which approximately $110 million was drained from its treasury through price manipulation of its native token

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