Mango Markets Exploiter Sentenced to Four Years

Crypto trader Avraham “Avi” Eisenberg was sentenced to four years and four months in prison on Thursday for possession of child sexual abuse material.

However, a federal judge needs more time to consider Eisenberg’s request for a new trial regarding his October 2022 exploit of the now-defunct Solana-based decentralized exchange, Mango Markets.

In April last year, a federal jury convicted the 29-year-old of fraud and market manipulation for the $110 million exploit.

Eisenberg manipulated Mango Markets by trading with himself to inflate the value of its token, MNGO. This allowed him to use MNGO perpetuals as collateral to borrow around $110 million from users, with “no intention of repaying,” according to prosecutors.