Legal Proceedings Against Crypto User Responsible for Mango Markets Hack
The legal proceedings against the crypto user believed to be responsible for the multi-million dollar hack of Mango Markets, a decentralized exchange, will be progressing in the United States, with a trial set for December 4th.
According to documents filed in the U.S. District Court for the Southern District of New York on June 14, Judge Richard Berman set Avraham Eisenberg’s trial date for December 4. Eisenberg is accused of carrying out a major exploit of Mango Markets in October 2022, resulting in the reported theft of $116 million in MNGO governance tokens, USDC and mSOL staked Marinade.
Eisenberg has entered a plea of not guilty to three criminal charges pertaining to commodities fraud, manipulation of commodities, and wire fraud in association with the Mango Markets incident. The platform announced in October 2022 that around $67 million of the funds had been returned, with the crypto user asserting that his activities were legitimate as part of a “lucrative trading system.”
Mango Markets has filed a lawsuit against Avraham Eisenberg seeking $47M in damages plus interest.
Trial Date Set for December 4th for Avraham Eisenberg
Lawyers from the U.S. Attorney’s Office and those representing Eisenberg have until June 22 to submit any pre-trial motions regarding the timetable. Additionally, Eisenberg is facing separate civil actions initiated in January by the Commodity Futures Trading Commission, Securities and Exchange Commission, and Mango Markets.
Since his arrest in Puerto Rico in December 2022, the suspected Mango Markets exploiter has not used his Twitter account. After a February hearing in which he gave up his right to bail, he has mostly been in the hands of the American government.
Magazine: Is it ever appropriate for crypto projects to engage in negotiations with hackers? Most likely.
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