U.S. District Judge overturned the jury’s fraud and market manipulation convictions against Avraham Eisenberg related to the $110 million Mango Markets exploit

Event date

May 23, 2025

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A trader charged in the first US case tied to cryptocurrency manipulation won a legal challenge to overturn his convictions for exploiting Mango Markets rules to steal $110 million from the exchange. US District Judge Arun Subramanian on Friday vacated Avraham Eisenberg’s fraud and manipulation convictions and acquitted him of a third charge.

On Friday, US District Judge Arun Subramanian ruled that the evidence presented at trial failed to support the jury’s conclusion that Eisenberg made materially false representations to Mango Markets.

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.

A US federal judge has vacated key fraud and manipulation convictions against Avraham Eisenberg, the trader at the center of the case involving a $110 million exploit of the decentralized exchange Mango Markets.

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Week 21 of 2025