Avraham Eisenberg, a 27-year-old American man, has been charged with fraudulently obtaining $110 million of cryptocurrency from the crypto exchange Mango Markets. Avraham was reportedly living in Puerto Rico at the time of the scheme. He now faces up to 40 years in jail, according to the Department of Justice. The charges include one count of commodities fraud, one count of commodities manipulation, and one count of wire fraud.
Last month, Mango Markets submitted a filing seeking $47 million in damages from Avraham. Mango Markets runs a DAO with its own crypto token that is available for investors to buy and sell. Avraham allegedly manipulated the price of perpetuals contracts for the crypto token, allowing him to inflate the price and profit off of the coin. Eventually, he effectively drained the platform of all of its assets.
