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
Luke BelmarIndividualsCryptocurrency influencer Luke Belmar (@lukebelmar on X) became the subject of controversy following allegations related to the promotion of a memecoin. Critics on social media alleged that Belmar used a series of posts referencing a forthcoming cryptocurrency project and a large-scale airdrop to generate interest in a token without explicitly identifying a specific contract address. Belmar published multiple posts discussing an upcoming memecoin, describing plans for what he characterized as a major airdrop and making comparisons to other cryptocurrency projects. Because no contract address was publicly provided, several tokens emerged claiming association with his statements. Critics alleged that this ambiguity enabled speculation around multiple tokens while avoiding a direct endorsement of any particular asset.
World Liberty Financial (WLFI) — Justin Sun token freezeProjectsWLFI, a DeFi project linked to Donald Trump and his family, blacklisted/froze the wallet of major investor Justin Sun in Sept 2025 — ~540–595M unlocked WLFI tokens (~$107M) plus ~2.4B locked. Sun sued, alleging an undisclosed admin 'blacklist backdoor'; WLFI denied it and threatened a countersuit. The dispute is ongoing.
This page was last updated on Jun 15, 2026. View revision history.