US Judge Overturns Avraham Eisenberg’s Convictions in $110 Million Mango Markets Crypto Manipulation Case

A US judge has overturned the convictions of Avraham Eisenberg, who was charged in the first US case related to cryptocurrency manipulation. Eisenberg had been accused of exploiting Mango Markets' rules to steal $110 million from the exchange in 2022. The judge ruled that Mango Markets had no explicit terms banning price manipulation or repayment requirements, and found that Eisenberg's trades did not constitute wire fraud. The ruling noted that similar past trades had gone uncharged, leading to the decision to vacate Eisenberg's convictions due to insufficient evidence.

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