Eisenberg is set to face the consequences of exploiting DEX Mango Markets.
Avraham Eisenberg, the accused behind an alleged theft involving the decentralized exchange Mango Markets, is set to defend himself in the United States court.
A multimillion-dollar exploit, resulting in an alleged theft of approximately $116 million, will see Eisenberg standing trial on December 4th. The news was revealed in the court document published on June 14th.
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The US District Court for the Southern District of New York presided over by Judge Richard Berman, laid out the court proceedings.
In addition to the looming trial, both the US Attorney’s Office and Eisenberg’s defense team have until June 22nd to present their pretrial motions concerning the trial's schedule.
The charges against Eisenberg stem from a significant exploit of Mango Markets in October 2022. This exploit involved the purported theft of $116 million in crypto assets, including MNGO governance tokens, USD Coin (USDC), and Marinade Staked SOL (mSOL).
Eisenberg, the alleged exploiter, has vociferously denied guilt, pleading not guilty to three criminal counts. The charges encompass commodities fraud, commodity manipulation, and wire fraud linked with the Mango Markets exploit.
In a twist, Eisenberg had returned approximately $67 million of the stolen funds, arguing that his actions were lawful and were part of a "highly profitable trading strategy," as reported in October 2022.
After an arrest in Puerto Rico in December 2022, Eisenberg's public presence has been absent. After his arrest, the man was moved to Oklahoma and remained under US custody.
The impending trial of Eisenberg promises to unfold a landmark event in the crypto world, putting a spotlight on crypto theft and exploitation. The events that transpire in the courtroom on December 4th will impact the landscape of decentralized exchanges and crypto law enforcement.
