Judge Overturns Key Convictions in $110M Mango Markets Crypto Case
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Eisenberg had been found guilty in April 2024 after a jury concluded he manipulated Mango’s MNGO token price by over 1,300% within minutes.
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On Friday, Judge Arun Subramanian vacated Eisenberg’s convictions for commodities fraud and market manipulation, stating that prosecutors failed to prove he made materially false representations.
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A jury found Eisenberg guilty of wire fraud, commodities fraud, and commodities manipulation in April 2024. The defense argued that the exploit was not a cybercrime and represented a “successful and legal trading strategy.”
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