Fraud Trial of Mango Markets Exploiter Delayed to April

Mango Markets Exploiter's Trial Postponed

The trial of Avraham Eisenberg, the alleged perpetrator behind the $116 million Mango Markets exploit, has been postponed to April 8, 2024, following a successful motion by his legal team.

Trial Preparation Challenges

Eisenberg's lawyers cited several challenges in preparing for the trial, including the need to analyze voluminous discovery materials submitted by U.S. prosecutors and his unexpected transfer to the Metropolitan Detention Center (MDC) in Brooklyn.

U.S. Prosecutors' Response

U.S. prosecutors contested the motion for a continuance but were unsuccessful in their argument.

Eisenberg's Confession

Eisenberg had previously confessed to his involvement in the Mango Markets exploit but pled not guilty to criminal counts, including commodities fraud, commodity manipulation, and wire fraud.

SEC Charges

In addition to the criminal charges, the Securities and Exchange Commission (SEC) charged Eisenberg with manipulating Mango Markets' governance token, MNGO, and draining the platform's treasury of $116 million.