US Prosecutors Seek Eight-Year Sentence for Mango Markets Attacker

Prosecutors from the Southern District of New York have requested a prison sentence of 78 to 97 months for Avraham Eisenberg, found guilty in the attack on the DeFi project Mango Markets in 2022.

The hearing is scheduled for May 1.

“This sentence is necessary, among other things, to properly reflect the seriousness of the defendant’s crimes, promote respect for the law, deter him from future criminal activity, and protect the public,” prosecutors stated.

Eisenberg claimed he was acting within a legal trading strategy. However, prosecutors insist he was aware of the illegality of his actions.

In 2022, Eisenberg executed a scheme that resulted in the withdrawal of $110 million from the platform. He was later charged with additional offenses related to illegal content involving minors.

According to the document, Eisenberg used two of his accounts to manipulate the price of the MNGO token, creating fake accounts on platforms FTX, AscendEx, and Serum to inflate its value.

He then sold MNGO, leading to a collapse in the asset’s value and the temporary insolvency of Mango Markets.

Previously, Eisenberg denied fraud charges, asserting he acted according to protocol rules. However, prosecutors noted he attempted to conceal his actions and left the country after learning of the investigation.

Later, the perpetrator returned approximately $67 million to Mango Markets, retaining over $40 million after community approval.

On April 18, a jury found Eisenberg guilty in the attack on the DeFi project.