Prosecutors argue it’s an appropriate sentence for Eisenberg’s 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.“This sentence is necessary to, among other things, appropriately reflect the gravity of the defendant’s crimes, promote respect for the law, deter the defendant from future criminal activity, and protect the public,” the prosecutors said.“Fraud 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.”Mango Markets announced on Jan.11 that it was winding down operations.
Mango Markets hopes for restitutionIn an April 22 impact statement filed by lawyers acting for Mango Markets, the exchange asks that, in light of Eisenberg’s conviction, the court grant $47 million restitution to make everyone, “including Mango DAO, whole.”“Although Eisenberg’s attack cannot be undone, return of the funds he misappropriated is critical to righting his wrong,” Mango Markets said.
US federal prosecutors have asked a district judge to sentence Avraham “Avi” 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.
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Author / Journalist: Cointelegraph by Stephen Katte
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