The main dishes to remember:
- A federal judge has canceled the convictions on the fraud and manipulation of Avraham Eisenberg in the Mango markets of $ 110 million.
- The court accepted the defense of Eisenberg according to which he used imperfect but legal intelligent contract mechanisms rather than committing fraud.
- Despite the decision, Eisenberg remains in prison for juvenile pornography.
An American federal judge has sent major convictions against Avraham Eisenberg, the man accused of having exploited decentralized mango markets for $ 110 million.
Friday, judge Arun Subramanian canceled Eisenberg’s convictions for fraud and manipulation of the raw materials market, declaring that prosecutors had not proven that he had made false representations materially.
The court also acquitted a third accusation in Eisenberg, which leaves the government’s case considerably weakened.
Eisenberg used a token pump to drain $ 110 million from the mango
Eisenberg had been found guilty in April 2024 after a jury concluded that he manipulated the price of Mango token from Mango more than 1,300% in minutes.
He then used the inflated value as a guarantee to drain the protocol of $ 110 million in crypto.
While the Ministry of Justice considered the law as a calculated deception of an intelligent contract system, the defense of Eisenberg insisted that it simply took advantage of the defective but open – without lying or misleading the protocol.
The Subramanian judge ranked on the side of this point of view, noting that the platform was “without authorization and automatic”, which makes it difficult to establish a legal basis for fraud. “There was insufficient evidence of falsehood,” he wrote.
The decision also rejected New York as the appropriate place for the trial.
Eisenberg was based in Puerto Rico during the trades, and the judge rejected Doj’s attempts to link the case to the State through a Mango user in Powhkeepsia and a third -party service provider in Manhattan.
The canceled charges are now leaving the Ministry of Justice to decide to continue the case again.
However, recent signals from the Trump administration suggest a cooling position on the crypto application.
Eisenberg remains in prison for the possession of juvenile pornography
Despite the court victory, Eisenberg remains in police custody. Earlier this month, he was sentenced to almost four years in prison for an accusation unrelated to possession of juvenile pornography, on the basis of evidence found during his arrest in 2022 in Puerto Rico.
Eisenberg still faces separate civil affairs presented by the SEC and the CFTC.
On October 11, 2022, Mango Markets was the victim of an attack in which approximately $ 110 million was drained from his treasure.
Shortly after the attack, Avraham Eisenberg appeared as an author, claiming that the feat was only a “very profitable negotiation strategy” and claiming that it was carried out within the limits of legality and the planned design of the protocol.
According to the prosecutors, Eisenberg used two accounts to engage in manipulative trade involving term contracts linked to the values of the Mango token in Mango and the coin to the mouth of the range.
Last month, American federal prosecutors asked for a prison sentence of up to 6.5 years for Eisenberg.
In their file, the prosecutors underlined the severity of Eisenberg’s actions, declaring that its program not only defrauded investors with more than $ 100 million but also forced the mango markets to close.
The post-reversal judge of key convictions in a crypto file of $ 110 million in the Mango markets appeared first on Cryptonews.
