{"id":543786,"date":"2023-01-26T09:02:38","date_gmt":"2023-01-26T06:02:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mango-markets-sues-avraham-eisenberg-for-47m-in-damages-plus-interest\/"},"modified":"2023-01-26T09:02:38","modified_gmt":"2023-01-26T06:02:38","slug":"mango-markets-sues-avraham-eisenberg-for-47m-in-damages-plus-interest","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mango-markets-sues-avraham-eisenberg-for-47m-in-damages-plus-interest\/","title":{"rendered":"# Mango Markets sues Avraham Eisenberg for $47M in damages plus interest"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be55050393\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be55050393\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/mango-markets-sues-avraham-eisenberg-for-47m-in-damages-plus-interest\/#%E2%80%9D_Mango_Markets_sues_Avraham_Eisenberg_for_47M_in_damages_plus_interest_%E2%80%9C\" >&#8221; Mango Markets sues Avraham Eisenberg for $47M in damages plus interest &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Mango_Markets_sues_Avraham_Eisenberg_for_47M_in_damages_plus_interest_%E2%80%9C\"><\/span>&#8221; Mango Markets sues Avraham Eisenberg for $47M in damages plus interest &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Mango Labs, the company behind the decentralized finance (DeFi) protocol Mango Markets has come out with its own lawsuit against exploiter Avraham Eisenberg. <\/p>\n<p>The Jan. 25 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.courtlistener.com\/docket\/66760250\/1\/mango-labs-llc-v-eisenberg\/\">filing<\/a> in the United States District Court for the Southern District of New York alleges Einseberg of exploiting its platform for millions of dollars worth of cryptocurrencies in October 2022.<\/p>\n<p>It asks for $47 million in damages plus interest starting from the time of the attack.<\/p>\n<p>It also asked the court to rescind an agreement made between Eisenberg and Mango\u2019s related DAO and declare it to be \u201cinvalid and unenforceable.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/c339c6ec-16e6-409f-b004-03eb93d8a74b.png\"><figcaption style=\"text-align: center;\"><em>Eisenberg (right) in an Oct. 28, 2022 episode of the Unchained podcast with journalist Laura Shin discussing his exploit of Mango Markets. Image: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=e-y4WmrndQ4\">YouTube<\/a><\/em><\/figcaption><\/figure>\n<p>The agreement was in relation to a governance proposal submitted by Eisenberg which asked the DAO to allow them to keep $47 million along with a stipulation that Mango Markets wouldn\u2019t pursue criminal charges for the draining of its treasury. <\/p>\n<p>In the latest complaint, Mango Labs alleged Eisenberg \u201cwas not engaged in lawful bargaining,\u201d adding:<\/p>\n<blockquote><p>\u201c[Eisenberg] forced Mango DAO to enter into an unenforceable settlement agreement\u2014under duress\u2014purporting to release depositors\u2019 claims against him and precluding them from pursuing a criminal investigation.\u201d<\/p><\/blockquote>\n<p>On Oct. 11, 2022, an attacker drained around $117 million from Mango Markets\u2019 treasury by manipulating the price oracle data of its native MNGO token, allowing them to take out under-collateralized loans.<\/p>\n<p>Afterward, Eisenberg outed himself as the attacker. He claimed the exploit was a \u201chighly profitable trading strategy\u201d and that it was \u201clegal open market actions, using the protocol as designed.\u201d<\/p>\n<p>On Dec. 27, Eisenberg was arrested in Puerto Rico and charged by the Federal Bureau of Investigation (FBI) with one count each of commodities fraud and manipulation for his attack on the platform.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Mango Market exploiter brags after rug-pulling Mango Inu \u2018shitcoin\u2019<\/em><\/strong><\/p>\n<p>The Commodity Futures Trading Commission (CFTC) followed up on the FBI\u2019s charges on Jan. 9, pinning Eisenberg with two counts of market manipulation.<\/p>\n<p>On Jan. 20 the Securities and Exchange Commission (SEC) dealt a further blow to Eisenberg with charges of violations relating to anti-fraud and market manipulation provisions of U.S. securities laws.<\/p>\n<p>Mango Labs suit claimed Eisenberg \u201cis a notorious online personality\u201d with \u201ca history of attacking multiple cryptocurrency platforms and manipulating cryptocurrency markets.\u201d<\/p>\n<p>Eisenberg has attempted to exploit other protocols, he used a slew of sophisticated shorts on Nov. 22 attempting to exploit the DeFi protocol Aave.<\/p>\n<p>Attorneys retained by Mango Labs did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely respond to a request for comment. Mango Markets could not be reached for comment.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/mango-markets-sues-avraham-eisenberg-for-47m-in-damages-plus-interest\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Mango Markets sues Avraham Eisenberg for $47M in damages plus interest &#8220; Mango Labs, the company behind the decentralized finance (DeFi) protocol Mango Markets has come out with its own lawsuit against exploiter Avraham Eisenberg. The Jan. 25 filing in the United States District Court for the Southern District of New York alleges Einseberg&#8230;<\/p>\n","protected":false},"author":1,"featured_media":543787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/5a8073ee-e2ff-404e-b60c-c3bb6214af94.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74877,74868,75916,117,71433,55229],"class_list":["post-543786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-decentralized-exchange","tag-defi","tag-dex","tag-business","tag-court","tag-law"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=543786"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/543787"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=543786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=543786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=543786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}