SEC Charges Avraham Eisenberg with Manipulating Mango Markets' "Governance Token" to Steal $116 Million of Crypto Assets
Retrieved on:
Friday, January 20, 2023
USD Coin, Crypto, Commodity Futures Trading Commission, Security (finance), Metropolitan Detention Center, Guaynabo, Person, FBI, Justice, Complaint, CFTC, New Hampshire Department of Justice, Chicago Region Environmental and Transportation Efficiency Program, Commodity Futures Modernization Act of 2000, Cryptocurrency
According to the SEC’s complaint, beginning on October 11, 2022, Eisenberg engaged in a scheme to steal approximately $116 million worth of crypto assets from the Mango Markets platform.
Key Points:
- According to the SEC’s complaint, beginning on October 11, 2022, Eisenberg engaged in a scheme to steal approximately $116 million worth of crypto assets from the Mango Markets platform.
- According to the complaint, Eisenberg used the increased value of his MNGO perpetual futures position to borrow and withdraw approximately $116 million worth of various crypto assets from Mango Markets, effectively draining all available assets from the Mango Markets platform.
- The SEC’s ongoing investigation is being conducted by Kristin Pauley of the Crypto Assets and Cyber Unit.
- The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York, the FBI, and the CFTC.