Crypto Chaos: Judge Declares Mango Markets Case a Fruitless Endeavor! 🍋💸

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What to know:

  • A U.S. judge has decided that Avraham Eisenberg’s fraud and market manipulation convictions are about as solid as a wet paper towel.
  • The judge, in a fit of judicial whimsy, ruled that prosecutors failed to prove Eisenberg made any false representations to the Mango Markets—because who needs facts when you have a good story?
  • Eisenberg, the crypto magician, managed to manipulate the price of Mango’s native token and withdrew a staggering $110 million, all while exploiting a vulnerability in the platform’s permissionless structure. Bravo! 🎩✨

In a plot twist that would make even the most seasoned soap opera writer raise an eyebrow, a U.S. judge has overturned the fraud and market manipulation convictions of Avraham Eisenberg, the crypto trader who allegedly drained $110 million from the now-defunct decentralized finance protocol known as Mango Markets. Yes, you heard that right—$110 million! That’s enough to buy a small island or at least a very large yacht.

On a rather uneventful Friday, U.S. District Judge Arun Subramanian ruled that the prosecutors, in their infinite wisdom, failed to prove that Eisenberg made any false representations to the platform. Perhaps they were too busy trying to figure out how to use their own smartphones.

In a further twist of fate, the judge also decided to acquit Eisenberg of wire fraud charges. Apparently, the investor managed to manipulate the price of Mango’s native token, MNGO, with trades that skyrocketed by more than 1,000% in just 20 minutes. Talk about a quick trip to the moon! 🚀

Eisenberg’s defense team argued that the platform, which operated through smart contracts (because who doesn’t love a good contract?), allowed anyone to transact freely. They claimed he merely exploited a vulnerability, which sounds suspiciously like a fancy way of saying he found a loophole big enough to drive a truck through. The judge, in a moment of clarity, agreed, stating that Mango’s permissionless structure meant there “was insufficient evidence of falsity” from the prosecutors. Well, that’s one way to dodge a bullet!

Now, while this case may have collapsed like a poorly constructed house of cards, Eisenberg is still serving a four-year sentence for a completely different matter—possession of child sexual abuse material. So, it seems that not all is lost in the cosmic balance of justice.

“From the beginning, we said this case was fatally flawed,” his attorney Brian Klein of Waymaker LLP said, probably while shaking his head in disbelief. “We are very pleased for Avi that the judge granted our motion and dismissed the case.” Well, isn’t that just peachy?

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2025-05-25 00:29