The United States Securities and Exchange Commission (SEC) today charged Mango Markets attacker Avraham Eisenberg—who previously claimed responsibility for the scheme—with alleged fraud and market manipulation offenses related to his actions on the Solana-based decentralized exchange (DEX) in October 2022. Eisenberg, a U.S. citizen, was arrested in Puerto Rico in December and will be transported to New York to face the various criminal and civil charges filed against him. He is alleged to have manipulated the platform’s markets to steal approximately $116 million worth of cryptocurrency. He boasted of the original attack on Twitter last October, describing it as a “highly profitable trading strategy.” Mango Markets had been temporarily rendered insolvent as a result of the strategy, which he said he executed with a team of users. He also defended the scheme during an appearance on the Unchained Podcast. “I believe all of our actions were legal open market actions, using the protocol as designed,” Eisenberg tweeted in October, “even if the development team did not fully anticipate all the consequences of setting parameters the way they are.”
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