CFTC Accuses Mango Markets Exploiter Manipulating The Price Of Swaps On The Platform

Key Points:

• The CFTC is accusing Avraham Eisenberg of price manipulation and inflated prices on Mango Markets.
• Since Eisenberg first took use of Mango Markets in October 2022, the majority of those details have been widely known. Eisenberg then acknowledged carrying out the alleged unlawful acts but defended his conduct.
• Eisenberg has engaged in, is engaging in, or is about to engage in counterfeit and manipulative conduct and practices, according to the CFTC, which is in violation of multiple parts of U.S. commodity regulations.

The Futures Trading Commission (CFTC) is accusing Avraham Eisenberg, aka Mango Avi Eisenberg, of a rogue past, price manipulation and price hype on Mango Markets, a derivatives trading platform on Solana.

According to the CFTC’s complaint, Eisenberg stole more than $100 million worth of cryptocurrency assets from the marketplace by artificially inflating prices.

Mango Markets was subjected to a price manipulation attack, resulting in the loss of over $100 million in user funds. The attacker then revealed his identity as Avraham Eisenberg, calling what just happened with Mango a highly profitable trading strategy and claiming that it didn’t break any rules as it was the project’s fault. judgment. Eisenberg kept his promise and returned $67 million to Mango Markets on October 15.

Eisenberg has participated in, is engaging in, or is likely to engage in fraudulent and manipulative acts and practices in violation of numerous parts of U.S. commodities regulations, according to the CFTC, through his operations.

Eisenberg is likely to keep breaking the law unless he is restricted and given a prohibition on doing specific things, according to the regulator. The regulator seeks, among other things, to enforce a trading restriction, collect different fines and penalties, and bring Eisenberg into compliance with the law. Eisenberg “has never been registered” with the CFTC, the CFTC added.

On December 27, Eisenberg was detained after the Southern District of New York (SDNY) filed a number of allegations against him.

On January 5, the case moved forward when a judge ordered Eisenberg’s arrest due to worries that he could try to leave before the hearing was over. When Eisenberg’s case is over is currently unknown.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News