The judge ruled that the trial evidence didn’t support the jury’s decision that Eisenberg had made false representations to Mango Markets, a decentralized finance platform run by smart contracts.
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Crypto Trader’s Convictions Vacated in Mango Markets Fraud Case
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U.S. District Court judge overturned conviction against Avraham Eisenberg for allegedly defrauding Mango Markets of $110 million, stating that the evidence did not support the jury’s conclusion that Eisenberg made materially false representations as Mango Markets was a permissionless and automatic DeFi platform without terms and conditions, making it legally impossible to deceive, and therefore Eisenberg exploited flawed but legally accessible smart contract mechanics rather than committing fraud
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