Crypto News

Mango Labs Takes Legal Action Against Alleged Hacker Eisenberg

Avraham Eisenberg is facing a legal battle with the Solana-based DEX

Avraham Eisenberg is facing a legal battle with the Solana-based decentralized exchange (DEX) Mango Markets over a “profitable trading strategy” he allegedly used to exploit a vulnerability on the platform and take advantage of the exchange’s users.

In October 2022, the trading platform reported an anomaly and took precautionary measures to protect users’ funds.

The hacker was identified as Avraham Eisenberg and the U.S. Department of Justice arrested him for carrying out a $110 million exploit of the exchange.

The Securities Exchange Commission (SEC) has charged Eisenberg with securities manipulation, and the Federal Bureau of Investigation (FBI) and the Commodities Future Trading Commission (CFTC) have accused him of fraud, manipulation, and violation of the country’s commodities regulations.

Now, Mango Market is suing Eisenberg for attempting to illegally keep the profits he made from the incident, and has asked for the return of $67 million of the funds. The case is ongoing, and it remains to be seen what the outcome will be.


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