Mango Markets hacker to go on trial in December

Accused of wire fraud, Avraham Eisenberg will be judged in december 2023 at United States for manipulating the DeFi protocol Mango Markets.

In autumn 2022, the decentralized finance service Mango Markets lost $114 million following a attack. The pirate then sent part of the funds back to the protocol, claiming that it was not about not a hack but a “highly profitable trading strategy”. The latter, calledAvraham Eisenberghas since been arrested by the American authorities and is now accused of wire fraud.

Read:  Crypto exchange EDX reportedly ditches Paxos for Anchorage

And the trial of the crypto-trader will finally take place next December, reported Bloomberg Wednesday. The December 4, 2023 in New York. Specifically, U.S. prosecutors accuse Eisenberg of having manipulated Mango Markets swaps.

Eisenberg participated in a scheme to steal approximately $110 million by manipulating the price of MNGO perpetual contracts on Mango Markets,” read the complaint.

Eisenberg is also the subject of civil proceedings. Mango Labsthe publisher of the DeFi protocol, claims that the cryptocurrency trader forced it to return only $67 million of the $114 million stolen. However, the criminal proceedings have priority.

Read:  Webb Protocol closes Polychain-led financing round

The accused, who faces up to 20 years’ imprisonment, is currently being held in a prison located in the state of New Jersey, USA.

Follow Corners.en on TwitterLinkedin, Facebook or Telegram so you don’t miss a thing.

The Best Online Bookmakers September 29 2023

BetMGM Casino