Edit: Mango Markets (MNGO) — CryptoScamsWiki

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## Summary

Mango Markets was a Solana decentralized exchange with a native token, MNGO. On October 11, 2022, trader Avraham Eisenberg used about $5 million to take both sides of MNGO perpetual-futures positions and bought MNGO across the exchanges feeding Mango's price oracle, inflating the token's price and the value of his long position. He used that inflated collateral to borrow over $100 million from the protocol, then dumped MNGO; he later returned about $67 million in a DAO-mediated settlement. [1][2]

## Legal outcome

Eisenberg was charged in January 2023 and convicted by a jury in April 2024 of commodities fraud, commodities manipulation, and wire fraud. In May 2025 a federal judge vacated the convictions and entered an acquittal under Rule 29, citing improper venue and insufficient evidence of a material misrepresentation — noting Mango Markets had "no rules, instructions, or prohibitions about borrowing". Prosecutors appealed. Eisenberg has maintained it was a "legal trading strategy" exploiting a design flaw. [1][2][3]

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