Mango Markets Sues Avraham Eisenberg

Four different entities, including DOJ, are now bringing charges against Eisenberg.
Key TakeawaysMango Labs is the company behind the decentralized perp exchange Mango Markets and has filed a lawsuit against Avraham Ironberg.
The company seeks to restitution the $47 million Eisenberg allegedly took from it, as well as interest.
Eisenberg admitted to the act in October via Twitter.
Share this article Avraham Eisenberg, an applied game theorist, is being sued by Mango Labs over his exploiting of their protocol in October. He is already facing charges by the Department of Justice and Commodity Futures Trading Commission. Mango Markets retaliatesAvraham Eisberg was sued yesterday by Mango Labs, the company behind the Solana-based decentralized perpetual market Mango Markets. It seeks full restitution for the $47 million Eisenberg allegedly stole from the protocol and interest, beginning from the day of attack. Mango Markets was exploited October 11. The attacker took out large positions in the protocol’s perpetual forwards contracts, artificially increasing the price of the illiquid MNGO token by $0.3 to $0.91. They used their substantial unrealised profits as collateral to loan the protocol’s assets and took more than $114 million out of its treasury. Mango Markets agreed to not bring criminal charges against the attacker. The attacker offered to return $67 million to protocol users. Eisenberg admitted to orchestrating the attack shortly thereafter. Eisenberg admitted to having orchestrated the attack. However, the Department of Justice didn’t see things the same and Eisenberg was detained in Puerto Rico on 27 December. He was charged by the DOJ with one count each of commodities fraud and commodities manipulation. The Securities and Exchange Commission and Commodity Futures Trading Commission also filed charges against Eisenberg. A Puerto Rican court recently denied Eisenberg bail. The judge ruled that he was a flight risk because of his strong family ties. Decentral Media, Inc. does not warrant the timeliness, completeness, accuracy, or timeliness of any information accessed through this site. Decentral Media, Inc. does not provide investment advice. We do not provide personalized investment advice or any other financial advice. This website’s information is subject to change at any time. The information on this website could become obsolete or incorrect. You may not be able to update any information that is outdated, incomplete or inaccurate. We also reserve the right to change any information that is incorrect, incomplete or outdated. If you need investment advice about an ICO, IEO or other investment, we strongly recommend that you consult a licensed financial advisor or other qualified financial professional. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.See full terms and conditions.Recommended News