Avi Eisenberg could face up to 20 years in prison if found guilty of commodities fraud and manipulation related to his alleged October 2022 exploit of Mango Markets.
A jury has begun deliberations for charges related to market manipulation and fraud following an alleged $110 million exploit of the Mango Markets decentralized exchange by Avraham “Avi” Eisenberg.
On April 17 in United States District Court for the Southern District of New York, Judge Richard Berman excused the jury for the day following closing arguments by prosecutors and defense attorneys. The individuals will continue deliberations tomorrow on whether to find Eisenberg guilty of commodities fraud and commodities manipulation after a two-week trial.
In October 2022, Eisenberg allegedly executed a series of large purchases on Mango Markets to artificially raise the price of the token relative to USD Coin (USDC), then withdrew the assets from the platform. U.S. authorities arrested Eisenberg in Puerto Rico in December 2022, claiming he “willfully and knowingly” engaged in a scheme involving manipulating the price of perpetual futures on Mango Markets.