Summary
TLDR: Crypto trader Avraham Eisenberg convicted of manipulating Solana DeFi platform Mango Markets to steal $110 million worth of cryptocurrency. Found guilty of commodities fraud, manipulation, and wire fraud for boosting futures contracts value and fleeing to Israel. Story is breaking and will be updated with more details.
Key Points
1. Crypto trader Avraham Eisenberg was convicted of manipulating Solana decentralized finance (DeFi) trading platform Mango Markets in October 2022 to steal $110 million worth of cryptocurrency.
2. Eisenberg was found guilty by federal jurors of commodities fraud, commodities manipulation, and wire fraud, according to Bloomberg, for intentionally boosting the value of futures contracts and then fleeing to Israel.
3. Assistant U.S. Attorney Thomas Burnett stated in court that Eisenberg manipulated the price to trick the system into giving him money, with the intention of taking the money and running.