{"id":127847,"date":"2025-04-24T06:17:45","date_gmt":"2025-04-24T06:17:45","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127847"},"modified":"2025-04-24T06:17:45","modified_gmt":"2025-04-24T06:17:45","slug":"prosecutors-seek-over-6-years-prison-for-mango-markets-exploiter","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127847","title":{"rendered":"Prosecutors seek over 6 years prison for Mango Markets exploiter"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsUS federal prosecutors have asked a district judge to sentence Avraham \u201cAvi\u201d Eisenberg, the crypto user convicted of the $110 million exploit of the decentralized exchange Mango Markets in 2022, to at least six and a half years behind bars.<br \/>\nAhead of Eisenberg\u2019s May 1 sentencing hearing, US prosecutors are petitioning US District Judge Arun Subramanian for Eisenberg to face between 78 and 97 months in prison, according to an April 22 filing in a New York district court.<br \/>\nProsecutors argue it\u2019s an appropriate sentence for Eisenberg\u2019s April 2024 conviction for committing wire fraud, commodities fraud and commodities manipulation in connection with the Mango Markets exploit and separate charges that he possessed child pornography.<br \/>\n\u201cThis sentence is necessary to, among other things, appropriately reflect the gravity of the defendant\u2019s crimes, promote respect for the law, deter the defendant from future criminal activity, and protect the public,\u201d the prosecutors said.<br \/>\n\u201cFraud that takes over $100 million from investors and effectively shuts down a business is a shocking violation of criminal law, and it necessitates a sentence commensurate with the crime.\u201d<br \/>\nMango Markets announced on Jan. 11 that it was winding down operations. It first launched in August 2021. A subsequent Jan. 18 post to X gave a date of Feb. 3 for the shutdown.<br \/>\nSource: Mango MarketsDuring his April 2024 trial, Eisenberg\u2019s legal team claimed he orchestrated a legal trading strategy that saw him profit $110 million from Mango Markets.<br \/>\nHe has returned roughly $67 million of the funds after the exploit, but retained more than $40 million following a community governance vote.<br \/>\nMango Markets hopes for restitution<br \/>\nIn an April 22 impact statement filed by lawyers acting for Mango Markets, the exchange asks that, in light of Eisenberg\u2019s conviction, the court grant $47 million restitution to make everyone, \u201cincluding Mango DAO, whole.\u201d<br \/>\n\u201cAlthough Eisenberg\u2019s attack cannot be undone, return of the funds he misappropriated is critical to righting his wrong,\u201d Mango Markets said.<br \/>\nRelated: Mango Markets heist like a fake diamond ring scam: Prosecutor<br \/>\n\u201cNo amount of money will fix the damage that Eisenberg has caused to Mango Markets\u2019 reputation and the suffering his avarice caused, but returning the money, Eisenberg made off with will at least help.\u201d<br \/>\nAuthorities arrested Eisenberg in December 2022. After his conviction, his sentencing has been postponed multiple times.<br \/>\nInitially, it was scheduled for Dec. 12, 2024, but it was later delayed to Feb. 11, 2025, and April 10, 2025. Eisenberg\u2019s legal team said the complexity of the sentencing issues caused the delays.\u00a0<br \/>\nMagazine: Ethereum maxis should become \u2018assholes\u2019 to win TradFi tokenization race<a href=\"https:\/\/cointelegraph.com\/news\/prosecutors-push-six-years-behind-bars-convicted-mango-markets-exploiter?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsUS federal prosecutors have asked a district judge to sentence Avraham \u201cAvi\u201d Eisenberg, the crypto user convicted of the $110 million exploit of the decentralized exchange Mango Markets&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127847"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127847"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127847\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127847"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}