• Avraham Eisenberg, the person allegedly behind a $116 million theft from decentralized exchange Mango Markets, will stand trial in December.
• He faces criminal charges from the Department of Justice (DOJ) as well as civil lawsuits from the U.S. Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC), and Mango Markets.
• Eisenberg has pled not guilty to three criminal counts related to commodities fraud, commodity manipulation, and wire fraud.
Alleged Crypto Exploiter Faces Trial
Avraham Eisenberg, the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets, will be moving forward with a trial scheduled for Dec 4 by Judge Richard Berman of the U.S District Court for Southern District of New York. The platform reported in October 2022 that he had returned roughly $67 million of the funds stolen in October 2022 resulting in the theft of roughly $116 million in governance token MNGO, USD Coin (USDC) and Marinade Staked SOL (mSOL).
Charges Filed Against Eisenberg
Eisenberg is facing three criminal counts for commodities fraud, commodity manipulation and wire fraud related to his alleged actions against Mango Markets as well as separate civil suits filed in January by the CFTC, SEC and Mango Markets itself. He has pleaded not guilty to all charges brought against him.
Eisenberg Waives Right To Bail
Authorities arrested him in Puerto Rico in December 2022 after which he was transferred to Oklahoma where he largely remained since February after waiving his right to bail during a hearing held then. Moreover, since his arrest he hasn’t posted anything on his Twitter account either further emphasizing on how serious this case is given its situation at hand currently.
Lawyers Must Submit Pretrial Motions By June 22nd
The lawyers involved with both sides; US Attorney’s Office representing DOJ and Eisenberg’s defense team have until June 22nd to submit pretrial motions regarding this case before it heads off for trial on December 4th this year .
Crypto Projects Should Negotiate With Hackers?
The verdict of this case could spark a new bull market or more malaise making it important that crypto projects consider negotiating with hackers when needed instead of taking legal action everytime due such an event occurs again in future if something similar happens again with any other cryptocurrency project or platform .