Jury Finds Mango Markets Attacker Guilty

On April 18, a jury found Avraham Eisenberg guilty in the case concerning the attack on the DeFi project Mango Markets in 2022, which involved the extraction of digital assets worth $116 million. This was reported by Bloomberg.

During the two-week trial, the defense argued that the defendant committed no crimes. According to his lawyers, he devised a “successful and legal trading strategy,” resulting in a gain of approximately $110 million. They also noted that Eisenberg returned about $67 million to Mango Markets, retaining over $40 million with community approval.

However, the prosecution insisted on punishment for Eisenberg. After several hours of deliberation, the jury found him guilty of fraud and market manipulation.

The final sentencing is expected on July 29. Eisenberg faces up to 20 years in prison, along with actions from the SEC and the CFTC. These agencies filed claims in January 2023 but suspended the process due to the criminal case.

Moody’s rating agency concluded that the trial of Eisenberg would have a positive impact on the DeFi sector.