The US Attorney’s Office charged an investor with market fraud and market manipulation. Avraham Eisenberg is accused of stealing $110 million from decentralized crypto platform Mango.
One of the most important pieces of evidence for the charge is written testimony from FBI Special Agent Brandon Rackes, which alleges that Eisenberg “knowingly and knowingly” manipulated cryptocurrency futures trading at Mango Markets.
The person was arrested Monday in Puerto Rico, and his arrest has sparked a wave of celebratory memes on the Internet.
According to the indictment filed in Manhattan federal court, Avraham Eisenberg managed to manipulate futures trading on the platform’s native token, MNGO, with this strategy managing to inadvertently collect 110 million cryptocurrencies from the deposits of other investors. Pay off this money.
Mango is a decentralized exchange that allows investors to lend, trade and invest using leverage.
The individual allegedly managed to artificially increase the price of MNGO against USDC, a stablecoin.
Later, Mango was able to reach an agreement with Eisenberg for a refund of $67 million. At the time, since Mango is a decentralized platform, polls concluded that as long as the stolen funds were returned, the platform would not go to court.
Eisenberg’s authorship was unknown as he claimed responsibility for the crimes on Twitter, although he considered his actions to be in accordance with the legal system and the workings of the market.