Avi Eisenberg’s alleged Mango Markets exploit was a “modern twist” on a classic con, prosecutors argued, but Eisenberg is adamant his actions were legal.
Avraham “Avi” Eisenberg’s alleged $110 million exploit of the Solana decentralized exchange Mango Markets is no different from a fake diamond ring scam, prosecutors have claimed.
United States Assistant Attorney Tian Huang said in opening arguments in a Manhattan federal court that Eisenberg’s actions on Oct. 11, 2022, constituted fraud and market manipulation, according to an April 9 Inner City Press X post.
“He inflated the price of cryptocurrency by 1,000% in 20 minutes. He convinced Mango Markets he owned a lot, and conned Mango Markets,” Huang added.
