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

Event date

April 30, 2024

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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.

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.”

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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Week 18 of 2024