Judge Overturns Fraud Conviction in Mango Markets Exploit Case

A US federal judge has vacated key fraud and manipulation convictions against Avraham Eisenberg, the trader accused of exploiting the decentralized exchange Mango Markets for $110 million. Judge Arun Subramanian ruled that the presented evidence failed to support the jury’s conclusion that Eisenberg made materially false representations to Mango Markets. Eisenberg was previously convicted in 2024 for manipulating the price of the MNGO token by over 1,300% and withdrawing funds from the platform through this manipulation. )