Crypto Trader’s Convictions Vacated in Mango Markets Fraud Case
A trader charged in the first US case tied to cryptocurrency manipulation won a legal challenge to overturn his convictions for exploiting Mango Markets rules to steal $110 million from the exchange.
US District Judge Arun Subramanian on Friday vacated Avraham Eisenberg’s fraud and manipulation convictions and acquitted him of a third charge. The judge ruled that the trial evidence didn’t support the jury’s decision that Eisenberg had made false representations to Mango Markets, a decentralized finance platform run by smart contracts.