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.
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Crypto Trader’s Convictions Vacated in Mango Markets Fraud Case
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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
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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
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