Judge overturns fraud convictions in Mango Markets exploit case
A US judge vacated Mango Markets exploiter’s fraud convictions, ruling the DeFi protocol’s permissionless design left no room for misrepresentation.
A US federal judge has vacated key fraud and manipulation convictions against Avraham Eisenberg, the trader at the center of the case involving a $110 million exploit of the decentralized exchange Mango Markets.
On Friday, US District Judge Arun Subramanian ruled that the evidence presented at trial failed to support the jury’s conclusion that Eisenberg made materially false representations to Mango Markets.
The decision vacates Eisenberg’s convictions for commodities fraud and market manipulation and acquits him of a third charge, significantly weakening the government’s case.
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