- A United States District Court for the District of Puerto Rico has issued a detention order to the Mango Market exploiter, Avraham Eisenberg.
- The Court has considered Eisenberg a severe flight risk for several reasons.
- Eisenberg was arrested last week due to claims of manipulation of Mango Market prices and fraud charges.
On January 4, after conducting a detention hearing, United States Magistrate Judge Bruce McGiverin issued an order of detention to a Mango Markets exploiter Avraham Eisenberg. In the ongoing Mango Markets exploit chronic, the United States District Court for the District of Puerto Rico judge ruled that it was necessary to detain Eisenberg for various reasons.
According to the court filing, there is no condition or combination of conditions of Eisenberg’s release that will reasonably assure the defendant’s appearance in Court as required. Additionally, the Court also emphasized other reasons, including Eisenberg being subject to a long period of incarceration if he gets convicted, his having significant family or other ties outside the United States, and the infamous mango markets hacker having unverified background information that could lead to complications in the ongoing legal proceedings.
The decision implicates that for Eisenberg to be released, he will have to remain in custody until the case is finished, and if he is found not guilty, he is to be removed via a bail review process. A detention order is a court order that could be made at a bail hearing.
Eisenberg Linked Chronics
However, according to one eagle-eyed blogger, it can be noted that this is not Avraham Einstenberg’s first attack. The now Mango Market exploiter’s name was previously linked to a $14 million DAO con. Eisenberg once pitched a stablecoin project known as FortressUSD (FUSD) to a DAO called FortressDAO without acknowledging that he would be its sole controller and owner. Later on, when they collected the funds, he converted them into an FUSD and made off with the entire Treasury, in which, at that time, he was DAO’s, Chief Technical Officer.
However, some investors cried out via their Twitter accounts, and Eisenberg agreed to give back some money to satisfy them partially. A month after attacking the Mango Markets in November, Eisenberg shot Aave with the same exploit that probably didn’t go through, ultimately costing him millions.
Avraham Eisenberg took to his Twitter on October 15, stating that the Mango Market exploit was a legal act. He further asserted that he was using the protocol as it was designed and was working with that operated a highly profitable trading strategy.
Eisenberg was arrested on December 27 and charged with market manipulation and fraud, despite arguing that his attack on the crypto market was a legal market action. In the filings signed by Thomas S. Burnett and Noah Solowiejczyk, United States Attorney stipulated that,
“Eisenberg involved in a scheme involving the intentional and artificial manipulation of the price of permanent futures contracts on a crypto platform called Mango Markets.”
Mango Markets is a Solana-based decentralized exchange controlled by a DAO, composed of holders of its native token, MNGO, that allows investors to lend, swap, borrow, and use leverage to trade crypto.
