Guilty Verdict: Mango Markets Exploiter Faces Potential 20-Year Prison Sentence for $110 Million Fraud

Following jury deliberations, Avraham "Avi" Eisenberg, the individual behind the $110 million exploit of the Mango Markets decentralised exchange, has been found guilty of wire fraud, commodities fraud, and commodities manipulation by a jury in the United States District Court for the Southern District of New York. The verdict, delivered on April 18, came after a two-week trial during which Eisenberg's legal team argued that his actions constituted a legal trading strategy rather than criminal activity, while prosecutors contended that they amounted to fraud. Eisenberg now faces sentencing on July 29 and could potentially receive up to 20 years in prison for his actions, which involved exploiting Mango Markets in October 2022 and subsequently retaining over $40 million following a community governance vote. Additionally, civil enforcement actions by the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission are expected to follow the criminal verdict.