Solana-Based Trading Platform Mango Markets Sues Crypto Trader Behind $100,000,000 Exploit

The Solana-based (SOL) decentralized crypto exchange sued those suspected of misusing its network for $100 million last October.

in the new court filing Mango Markets in the Southern District of New York has accused Avraham Eisenberg of launching a “brazenly malicious” attack against its platform.

The exchange alleges Eisenberg manipulated the price of the utility token Mango (MNGO) and used “fraud and deception” to convert approximately $114 million from Mango Markets customers into his accounts. I’m here.

Eisenberg, who runs a trading company and describes himself as a “digital art dealer,” went public a week after the incident, claiming he was the brains behind what he described as “legitimate” exploits of Mango. Did.

Eisenberg claimed he was involved in a trading team with a highly profitable strategy.

Mango Markets said in a new court filing:

“A few days after the attack, the defendant planned to protect his ill-gotten gains by further illegal means. He forced the Mango DAO [decentralized autonomous organization] Release the depositors’ claims against him and enter into a non-enforceable settlement agreement intended to prevent them from pursuing criminal investigations.

Following the Mango DAO’s vote on the defendants’ ultimatum, the defendants returned approximately $67 million that they illegally cashed. He holds and continues to hold the rest. Since the attack, the defendants have publicly continued to plan further attacks on Mango Markets and have also used the converted funds to attack other cryptocurrency protocols. ”

Mango Markets seeks compensatory, incidental and consequential damages.

Earlier this month, the US Commodity Futures Trading Commission (CFTC) filed charges of market manipulation against Eisenberg. He was also arrested by Puerto Rico’s Department of Justice (DOJ) in late December on charges of merchandise fraud and manipulation.

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