Mango Markets hacker was not going to pay back $47 millionCryptotrader Abraham Eisenberg insisted on keeping a huge chunk of the cryptocurrency funds stolen from the decentralized autonomous organization (DAO) Mango Markets. The exploit was committed in October 2022. The defendant himself, assured that he had no intention of returning $47 million to the community.
Eisenberg argued he did not have to give back more than $67 million in tokens out of the $114 million he received through a sophisticated trading system. The defendant actively denied all further claims against him after agreeing to a partial refund. Such details are published according to the last lawsuit against him on February 16, 2023.
Mango Markets representatives have sued to recover the remainder of the money. Members of the community assured that Eisenberg fraudulently misled them and kept a huge chunk of their cryptocurrency assets without any justification.
Eisenberg, for his part, argued that DAO representatives had previously decided that the case would be dismissed and went for a settlement between the two parties. Thus, he sought to cancel the lawsuit against him. The disagreement between the parties is related to the legitimacy of the vote, which Mango Markets held to recover some of the funds from the exploitation of Eisenberg.
Mango Labs, which represented the DAO in court, argued: the contract that allowed Eisenberg to return most of his withdrawals in exchange for a promise not to sue him was invalid. Their argument is that community members agreed to this scenario under pressure.
Eisenberg's legal team said the coercion argument does not stand up to scrutiny and should be rejected. According to the attorneys - it sounds ridiculous and is not supported by anything. Nevertheless, Eisenberg is also facing a lawsuit from the U.S. Commodity Futures Trading Commission (CFTC) on charges of market manipulation.
