Mango Markets Attacker Has Conviction Overturned—Why?
Avraham Eisenberg's conviction for manipulating the decentralized exchange Mango Markets to steal $110 million in crypto has been overturned. A jury previously found him guilty of commodities fraud, manipulation, and wire fraud after he exploited a feature in the DeFi app to artificially inflate his collateral. A U.S. judge ruled that the evidence did not support the jury's decision, citing vague rules of the platform and a lack of understanding among users regarding borrowing. Legal experts expressed mixed opinions on the fairness of the outcome, with some highlighting the risks and complexities of the DeFi space. Eisenberg's actions had drawn attention, as he had publicly boasted about them. He still faces four years in prison for unrelated charges of possession of child pornography discovered during the investigation.
