Tag: Mango Markets

The Mango Guy – Bloomberg

I’ve become increasingly convinced that the right regulatory approach to crypto might be “let them scam each other as much as possible, and laugh at the results,” but the US Department of Justice disagrees, and their position seems to be more popular with juries…. *** [Avi Eisenberg] definitely did “market manipulation,” in the traditional sense; whether or not he did…

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Crypto Trader’s Fraud Conviction Undercuts Exchange Code Defense

A crypto trader’s fraud conviction for exploiting cryptocurrency exchange rules to steal $110 million is a strike against the “code is law” argument championed by some decentralized finance proponents. But Avraham Eisenberg’s conviction last week also raises questions about the reach of US wire fraud laws, which target using electronic communications to defraud people and have increasingly been used in…

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Trader convicted of Mango Markets fraud in first US crypto manipulation case | Reuters

A cryptocurrency trader was convicted of fraud on Thursday, after prosecutors accused him of stealing about $110 million by rigging the Mango Markets exchange. Jurors in federal court in Manhattan found Avraham Eisenberg, 28, guilty of commodities fraud, commodities manipulation and wire fraud, in the U.S. Department of Justice’s first criminal case involving cryptocurrency market manipulation. Eisenberg had argued that…

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Mango Markets Trader Eisenberg Searched Web for ‘Fraud’ Before $110 Million Haul – Bloomberg

A trader accused of stealing $110 million from the Mango Markets cryptocurrency exchange searched the web for terms like “elements of fraud” and “statute of limitations market manipulation,” evidence presented at his criminal trial showed. *** Before and after his alleged theft, Eisenberg, 28, searched the web for terms like “market manipulation criminal” and “FBI surveillance,” as well as information…

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