U.S. DOJ Arrests Crypto Exchange Mango Markets’s Exploiter

Avraham Eisenberg, an exploiter of a crypto exchange, “Mango Markets,” was arrested in Puerto Rico, according to the US Department of Justice. Additionally, Eisenberg is charged with carrying out the October 2018 $110 million Mango Market crypto exchange hack. In New York’s Southern District Court, the hacker is facing charges.

Damian Williams issued a warrant for Eisenberg’s arrest (U.S. Attorney for the Southern District of New York). Noah Solowiejczyk, Thomas Burnett, and (assistant U.S. attorneys).

By manipulating the Mango Markets bitcoin exchange in October, Avraham Eisenberg is allegedly trying to steal over $110 million. Avraham Eisenberg admitted to being the brains behind the Mango Markets platform exploit after the hack in October. It’s interesting that he even made an attempt to protect himself by claiming that the platform hack was fully legal:

I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.

A Team To Commit The Crypto Scam

Furthermore, a team led by Avraham Eisenberg used the decentralized exchange Mango Markets to carry out an exploit. To purchase a sizable holding, he manipulated the price of the local MNGO token.

Additionally, the hacker raised prices artificially by up to 1,300%, which gave him access to additional tokens as collateral for loans. However, he claimed to be negotiating a compensation deal with the benefit plan. However, he made no mention of returning it.

The emphasis of the U.S. Department of Justice’s arrest request was on:

AVRAHAM EISENBERG, the defendant, did knowingly and intentionally manipulate and attempt to manipulate the price of a commodity in interstate commerce.

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Moreover, He asserted that lending platforms are eager to lend at the current token price. Eisenberg tried unsuccessfully in November to duplicate the vulnerability on Ave.

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