The criminal trial of Avraham Eisenberg, the alleged mastermind behind the multimillion-dollar exploit of decentralized exchange Mango Markets, is set to proceed in the United States. Eisenberg is facing civil lawsuits from the U.S. Commodity Futures Trading Commission, Securities and Exchange Commission, and Mango Markets, in addition to criminal charges from the DOJ.

Background and Allegations

Eisenberg’s alleged involvement in the Mango Markets exploit occurred in October 2022. This resulted in the theft of approximately $116 million worth of governance token MNGO, USD Coin, and Marinade Staked SOL (mSOL). He has pleaded not guilty to three criminal counts. These include commodities fraud, commodity manipulation, and wire fraud.

Further, the platform reported that Eisenberg had returned around $67 million of the stolen funds. He claimed that his actions were legal and part of a “highly profitable trading strategy.”

Trial Date and Proceedings

Judge Richard Berman has set the trial date for December 4, as revealed in the court records filed on June 14. This development signifies a significant step forward in the legal process. Eisenberg’s defence team and lawyers from the U.S. Attorney’s Office must submit pretrial motions regarding the schedule by June 22.

Moreover, the trial will provide an opportunity for both sides to present their arguments and evidence before the court.

Court gravel for the Trial for Mango Markets

Civil Lawsuits

Apart from the criminal charges, Avraham Eisenberg is also facing separate civil suits filed by the Commodity Futures Trading Commission, Securities and Exchange Commission, and Mango Markets. These legal actions highlight the extent of the alleged misconduct and the consequences Eisenberg may face beyond the criminal trial. 

Further, the civil lawsuits represent additional legal avenues through which the affected parties seek restitution and justice.

Incarceration and Twitter Silence

Since his arrest in Puerto Rico in December 2022 and subsequent transfer to Oklahoma, Avraham Eisenberg has remained in U.S. custody. Following a February hearing in which he waived his right to bail, Eisenberg has largely been held by authorities.

Notably, he has refrained from posting on his Twitter account since his arrest, maintaining a low profile during this legal process.

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