- Avraham Eisenberg is responsible for market manipulation of the MNGO token, which is Mango Governance.
- Eisenberg was arrested in Puerto Rico in December and will now be deported to New York to face charges.
- In October 2022, he called the scheme “a very profitable trading strategy”.
Mango Markets manipulator Avraham Eisenberg has been charged by the US Securities and Exchange Commission (SEC) with stealing $116 million worth of crypto assets. According to the press release, Eisenberg was allegedly involved in committing fraud and market manipulation in the MNGO token, Mango’s governance token that was offered and sold as collateral.
Eisenberg, a US citizen, was arrested in Puerto Rico in December and will now be deported to New York to face criminal and civil charges. In October 2022, he admitted his actions and called the scheme a “very profitable trading strategy” on Twitter. As a result, Mango Markets was temporarily insolvent. He also defended the scheme in a podcast.
David Hirsch, Head of Crypto Assets and Cyber Unit stated:
As we have claimed, Eisenberg engaged in a friendly maneuver…
SEC filing charges Avraham Eisenberg for stealing $116 million worth of Cryptos appeared first in Coin Edition.