SEC investigates Abraham Eisenberg's role in extracting $110 million from Mango Markets protocol
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The Commodity Futures Trading Commission (CFTC) today filed a complaint against Abraham Eisenberg (defendant) in the US District Court for the Southern District of New York. The CFTC alleges that Eisenberg designed and implemented a scheme to manipulate the price of a weakly traded digital asset - the Mango token (MNGO) - in order to benefit from swap positions he opened on Mango Markets, a decentralized digital asset exchange. As a result of his manipulative scheme, Eisenberg was able to embezzle more than $100 million from Mango Markets, essentially bankrupting the platform and harming other users. Remarkably, Eisenberg publicly acknowledged his manipulation and even brazenly offered the Mango Markets user community to return some of the stolen funds in exchange for an agreement not to prosecute him.
“[I] acknowledge the work of our colleagues from the Securities and Exchange Commission and the U.S. Attorney’s Office for the Southern District of New York, who are conducting parallel actions against the same defendant,” said Christine Johnson, Commissioner of the CFTC.
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