Fraud Charges Against Mango Markets Hacker Avraham Eisenberg Dismissed
A US judge has dismissed commodities fraud and market manipulation charges against Avraham Eisenberg related to the Mango Markets case, citing insufficient evidence. Key points include:
- The judge ruled that prosecutors did not prove Eisenberg falsely represented the platform.
- Mango Markets is considered decentralized, with the judge stating there was “insufficient evidence of falsity.”
- The CFTC filed charges in January 2023 after Eisenberg was arrested for allegedly manipulating swap prices from October 11 to 15, 2022.
- Eisenberg claimed he utilized a profitable trading strategy, returning over $67 million to the platform.
- His trial is scheduled for 2024 after delays due to complexity.
- Separately, Eisenberg received a 4-year sentence for possessing child sexual abuse material, to which he pleaded guilty.
- Despite the dismissal, civil suits from the SEC and CFTC remain, and the possibility of charges being refiled exists.
- Recent trends show leniency in crypto-related lawsuits under the current US administration.