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  • Blockchain Timeline

Mango Markets exploiter found guilty of fraud, faces up to 20 years in prison

Avi Eisenberg was found guilty of fraud and market manipulation by a Manhattan jury. He exploited $110 million from the DeFi protocol Mango Markets in October 2022 by pumping the MNGO futures price over 1000%.

After the exploit, he posted an anonymous proposal to the Mango Markets DAO offering to return $67 million in exchange for a promise not to pursue charges against him and permission to keep the rest.

Eisenberg was arrested in Puerto Rico in December 2022 and charged with commodities fraud, commodities manipulation, and wire fraud for the scheme. He will be sentenced on July 29 by New York District Court facing up to 20 years in prison.


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