SEC Charges Avraham Eisenberg with Alleged Fraud and Market Manipulation Offenses

Eisenberg was charged by the united states securities and exchange commission (sec) with alleged fraud and market manipulation offenses related to his actions on the solana-based decentralized exchange (dex) in october 2022. eisenberg was arrested in puerto rico in december and is set to face the charges in new york. he is accused of manipulating the platform’s markets to steal approximately $116 million worth of cryptocurrency.

Alleged fraud and market manipulation offenses took place in october 2022. eisenberg was arrested in puerto rico in december and is set to be transported to new york to face the charges. he had previously boasted of the attack on twitter last october, describing it as a “highly profitable trading strategy.”

Attempted to manipulate the mango markets decentralized finance (defi) platform’s dao by voting for his own solution to return stolen mngo governance tokens. he allegedly attempted a similar scheme on the aave protocol in november, but reportedly lost millions of dollars’ worth of crypto in the process. he defended the scheme during an appearance on the unchained podcast and tweeted in october that he believed his actions to be legal open market actions, using the protocol as designed. in december, eisenberg was charged by the u.s. department of justice. in april 2021, he was also charged by the cftc. the sec filed a complaint against eisenberg, alleging that he had violated numerous provisions of the federal securities laws.

https://decrypt.co/119683/sec-charges-mango-markets-attacker-manipulating-price-security

By Evey Lovelace

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