Mango Markets Hacker Found Guilty, Faces 20 Years in Prison In a Manhattan federal court, the verdict is in:
Avraham Eisenberg, the mastermind behind the
$110 million heist on Solana-based DeFi platform Mango Markets, has been found guilty. The consequences are severe, with a potential sentence of up to
20 years behind bars.
Prosecutors painted a picture of a complex exploit, highlighting the financial havoc wreaked by Eisenberg's actions. Since his arrest in January 2023, he has been awaiting his fate.
The charges against Eisenberg include commodities fraud, manipulation, and wire fraud. This wasn't just any hack; it involved cunningly manipulating Mango Markets' native token, MNGO.
After days of trial and deliberation, the jury reached its decision on April 18. Eisenberg's defense team argued that his actions were not criminal but rather a clever trading strategy that resulted in significant gains.
However, prosecutors maintained that Eisenberg's maneuvers were deceptive and designed to siphon funds illicitly. They claimed he had to resort to
lies to make off with the ill-gotten gains.
Despite returning a substantial portion of the stolen funds, Eisenberg's legal battle is far from over. His lawyer expressed disappointment but made it clear they would continue to fight for their client through post-trial motions.
