Avraham Eisenberg
The trader behind the October 2022 ~$110M Mango Markets exploit, which he called a 'highly profitable trading strategy.' A jury convicted him of fraud and market manipulation in 2024, but a federal judge vacated those convictions in May 2025; prosecutors appealed.
Also known as: Avi Eisenberg
Bio
Avraham Eisenberg is the trader who executed the October 2022 exploit of the Solana-based DeFi platform Mango Markets, manipulating the price of its MNGO token to borrow and withdraw roughly $110 million. He publicly described the maneuver as a "highly profitable trading strategy." He was arrested in December 2022. [1][2]
Legal outcome
In April 2024 a jury convicted Eisenberg of commodities fraud, commodities manipulation, and wire fraud. In May 2025, U.S. District Judge Arun Subramanian granted a Rule 29 motion and vacated all three convictions, finding insufficient evidence of venue in New York and no material misrepresentation (Mango Markets had no rules barring the conduct). Prosecutors filed a notice of appeal. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Veritaseum (VERI)TokensA 2017–2018 ICO for the VERI token that the SEC said raised ~$14.8M via false statements and that founder Reginald Middleton manipulated on secondary markets. Middleton and Veritaseum settled with the SEC in 2019 for ~$9.5M and a permanent digital-securities bar.
- Gotbit (crypto market manipulation)OtherA prominent crypto 'market maker' that the U.S. DOJ says ran wash-trading/market-manipulation services (2018–2024) to fake trading volume for token clients (including Saitama and Robo Inu) and win exchange listings. Charged in the FBI's 'Operation Token Mirrors'; founder Aleksei Andriunin pleaded guilty in 2025 and Gotbit forfeited $23M.
- Donald Basile
This page was last updated on Jun 8, 2026. View revision history.