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Crypto Trader Convicted on Fraud Charges for $110M Mango Markets Exploit

Eisenberg's arrest and subsequent conviction in Puerto Rico have led to a scheduled sentencing date, highlighting the consequences of his actions. (134 characters)

by John Darbie
Tue, Apr 23, 2024 6:42am
in Cryptocurrency
• 2 mins read
14.5k
Crypto Trader Convicted on Fraud Charges for 0M Mango Markets Exploit | FinOracle

Photo: Finoracle.net

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**Trader Convicted in Landmark $110 Million Cryptocurrency Manipulation Case

In a groundbreaking decision, a jury has unanimously found the trader responsible for the breathtaking $110 million exploit of the Solana (SOL)-based decentralized finance (DeFi) platform, Mango Markets, guilty. This marks the first-ever cryptocurrency market manipulation case in the US. The Department of Justice has announced that Avraham Eisenberg faces conviction on charges of commodities fraud, commodities market manipulation, and wire fraud tied to the trading strategy that rendered Mango Markets insolvent and placed user funds in jeopardy.

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