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Mango Markets Exploitation Suspect Detained in Puerto Rico

Mango Markets crypto exchange exploit

The United States Department of Justice (DOJ) has announced the arrest of Avraham Eisenberg, the suspected perpetrator of the $110 million Mango Markets crypto exchange exploit that took place in October.

Eisenberg has been charged with commodities fraud and commodities manipulation in the Southern District Court of New York and was arrested in Puerto Rico.

Furthermore, Eisenberg has previously admitted to being the mastermind behind the hack and argued that the exploit was legal under the protocol of Mango Markets.

The DOJ alleges that Eisenberg manipulated the price of the MNGO token, artificially inflated prices by up to 1,300%, and borrowed other tokens as collateral, but did not show any intention of returning them.

The DOJ arrest request states that Eisenberg “knowingly and intentionally manipulated and attempted to manipulate the price of a commodity” and engaged in a scheme involving “the intentional and artificial manipulation of the price of perpetual futures contracts.”

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