Cryptocurrency

Mango Markets exploiter faces new set of charges from the CFTC

Hull Invest

Mango Markets exploiter Avraham Eisenberg faces another charge, as outlined in a complaint filed by the CFTC. January 9.

In its complaint, the Commodity Futures Trading Commission (CFTC) alleges Eisenberg manipulated the price of swaps on DeFi platform Mango Markets. By engaging in artificial price increases, Eisenberg is said to have been able to steal over $100 million in crypto assets from the platform.

Most of these facts have been publicly known since Eisenberg first exploited Mango Markets in October 2022.

The CFTC said that through his activities, Eisenberg “engaged, engaged in, or sought to engage in fraudulent and manipulative conduct and practices” in violation of various sections of U.S. commodity regulation. said.

Regulators also said Eisenberg was likely to continue his attacks unless he was detained and barred—that is, prohibited from engaging in certain activities. It aims to force Eisenberg to comply with the law, impose various fines and penalties, impose trade bans, and more.

Eisenberg was arrested on December 27 after various charges were brought against him by the Southern District of New York District (SDNY).

The CFTC hinted at that development in today’s complaint because it said Eisenberg is currently in federal custody due to the SDNY pending lawsuit. Eisenberg said it was “never registered” with the CFTC.

The case developed further on January 5, when the court ordered Eisenberg’s custody over concerns that he might attempt to flee before proceedings were completed. It is unclear when the Eisenberg case (or cases) will be closed.

Posted In: Solana, USA, Hux

Read the latest market report

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button