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SEC charges Mango Markets exploiter for allegedly stealing $116M in crypto

Published 01/20/2023, 02:44 PM
Updated 01/20/2023, 05:00 PM
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The United States Securities and Exchange Commission has followed the Commodity Futures Trading Commission and others in filing parallel charges against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets.

In a Jan. 20 notice, the SEC alleged Avraham Eisenberg manipulated Mango Markets’ MNGO governance token, allowing him to steal roughly $116 million worth of cryptocurrency from the platform. According to the complaint, Eisenberg allegedly executed a series of large MNGO purchases in order to artificially raise the price of the token relative to USD Coin (USDC), then drained the assets from Mango Markets.

Source: Twitter

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