Alleged market manipulation in Puerto Rico Mango MarketsThe scammer was arrested.
Solana DeFi Platform Mango Markets suffered a $100 million hack in October. The attacker started moving the Mango spot market price, pushing the price up to $0.91. In addition, the value of 483 million MNGOs saw 423 million dollars. The attacker then took out a $116 million loan, leaving Mango’s treasury with a negative balance of -116.7 million dollars. The attacker was arrested on charges of commodity fraud and commodity manipulation.
Arrest Verdict for Mango Markets Attacker
The US Department of Justice has arrested Avraham Eisenberg, who emerged as a Mango Markets abuser in October.
Federal authorities arrested Avraham Eisenberg in Puerto Rico for abusing decentralized exchange Mango Markets, and he has filed charges against him in the U.S. District Court for the Southern District of New York.
Eisenberg led a team to exploit Mango Markets for $114 million in October by manipulating the price of the exchange’s native token, MNGO, according to the affidavit against him. By buying a large position on MNGO, Eisenberg inflated the price of this token by 1,300 percent, allowing him to borrow other tokens with larger market caps and more stable values through the same platform with no intention of paying back.