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Cryptocurrencies: 30017
Markets: 116589
Market Cap: $2,649,052,993,271     
24h Vol: $57,858,005,838
Seeking Alpha 2023-01-26 16:48:20

Mango Markets exploiter sued by crypto exchange after $114M theft

Mango Markets exploiter sued by crypto exchange after $114M theft
Mango Labs, the firm behind decentralized cryptocurrency exchange ("DEX") Mango Markets, sued exploiter Avraham Eisenberg for $47M in damages, according to a recent court filing. The filing revealed that Eisenberg had converted around $114M from Mango Markets depositors into his own accounts via "fraud and deception." He later returned approximately $67M of the unlawfully converted funds, though he is retaining the remainder, hence Mango Markets is demanding the remaining $47M back in damages plus interest from the time of the exploit. The lawsuit is far from the first charge levied against Eisenberg. Earlier in January, the U.S. Commodity Futures Trading Commission filed a lawsuit against him for alleged price manipulation, and shortly thereafter, the Securities and Exchange Commission also charged him with price manipulation .
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