{"id":546702,"date":"2023-02-02T08:22:53","date_gmt":"2023-02-02T05:22:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/regulatory-action-against-mango-markets-exploiter-is-a-win-for-defi-moodys\/"},"modified":"2023-02-02T08:22:53","modified_gmt":"2023-02-02T05:22:53","slug":"regulatory-action-against-mango-markets-exploiter-is-a-win-for-defi-moodys","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/regulatory-action-against-mango-markets-exploiter-is-a-win-for-defi-moodys\/","title":{"rendered":"# Regulatory action against Mango Markets exploiter is a win for DeFi \u2014 Moody\u2019s"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a23a717f3b33\" 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-6a23a717f3b33\" 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\/regulatory-action-against-mango-markets-exploiter-is-a-win-for-defi-moodys\/#%E2%80%9D_Regulatory_action_against_Mango_Markets_exploiter_is_a_win_for_DeFi_%E2%80%94_Moodys_%E2%80%9C\" >&#8221; Regulatory action against Mango Markets exploiter is a win for DeFi \u2014 Moody\u2019s &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Regulatory_action_against_Mango_Markets_exploiter_is_a_win_for_DeFi_%E2%80%94_Moodys_%E2%80%9C\"><\/span>&#8221; Regulatory action against Mango Markets exploiter is a win for DeFi \u2014 Moody\u2019s &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvYWNiMzg3NDItYWJlMC00ZGQ3LThkMzYtYzAxMmRiZmRiZDVmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Recent charges brought against Mango Markets exploiter Avraham Eisenberg will have a positive impact on the decentralized finance (DeFi) space, according to credit rating firm Moody\u2019s.\u00a0<\/p>\n<p>In a Jan. 31 note from Moody\u2019s Investor Service, AVP of decentralized finance Cristiano Ventricelli  stated that enforcement actions brought by the two leading U.S. market regulators in January mean that DeFi is moving towards a \u201csafer and more welcoming environment.\u201d <\/p>\n<blockquote><p>\u201cThe fact that both the SEC and CFTC took action against market manipulation by an alleged rogue trader is a credit positive for the industry as a whole.<\/p><\/blockquote>\n<p>Ventricelli stated that these actions could \u201cimprove oversight of the DeFi industry\u201d which has for the most part been a difficult area to regulate due to the lack of clarity regarding jurisdiction over open-source protocols.<\/p>\n<p>On Jan. 20, the United States Securities and Exchange Commission (SEC) filed charges against the alleged market manipulator, while the Commodity Futures Trading Commission (CFTC) filed charges against Eisenberg on Jan. 9.<\/p>\n<p>Ventricelli had made a similar comment on Jan. 26 as per a tweet from Moody&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> page but went into more detail in the Jan. 31 note.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A man has been charged with orchestrating an attack on the Mango Markets trading platform to steal $116M of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> assets. Moody\u2019s Cristiano Ventricelli comments on the US Securities and Exchange Commission&#8217;s move.  More on digital finance: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pGDxM9u42T\">https:\/\/t.co\/pGDxM9u42T<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\">@SECGov<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/HLFILPGQOR\">pic.twitter.com\/HLFILPGQOR<\/a><\/p>\n<p>\u2014 Moody&#8217;s Investors Service (@MoodysInvSvc) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MoodysInvSvc\/status\/1618234873487020032?ref_src=twsrc%5Etfw\">January 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The report suggested that DeFi is \u201cno longer a no man\u2019s land,\u201d referring to Christine Lagarde, President of the European Central Bank speech to the European parliament in June 2022, where she argued that Europe\u2019s crypto legislation, Markets in Crypto-Assets (MiCA), should be \u201cexpanded\u201d to include a framework for decentralized finance.<\/p>\n<p>Ventricelli suggested that this safer environment could lead to wider adoption amongst institutional investors \u201csuch as banks,\u201d as well as retail investors.<\/p>\n<p><strong><em>Related:\u00a0<\/em><\/strong><strong><em>DeFi sees exploits and exit scam drama in the last week of 2022: Finance Redefined<\/em><\/strong><\/p>\n<p>CFTC\u2019s\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.592057\/gov.uscourts.nysd.592057.1.0_1.pdf\">filing<\/a>\u00a0alleged that Eisenberg \u201cengaged in a manipulative and deceptive scheme to artificially inflate the price of swaps offered by Mango Markets.\u201d<\/p>\n<p>While the SEC\u2019s head of crypto assets and cyber unit, David Hirsch alleged in its filing that Eisenberg actions \u201cleft the platform at a deficit\u201d when the security price returned to its pre-manipulation level.<\/p>\n<p>Mango Labs, the company behind Mango Markets filed its own lawsuit against Eisenberg on Jan. 25, demanding $47 million in damages plus interest over allegedly exploiting the platform in October 2022.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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