Crypto Trader Convicted in $110 Million Mango Markets Fraud (2)

A trader accused of exploiting Mango Markets rules to steal $110 million from the exchange was convicted of fraud in the first US trial involving criminal charges tied to cryptocurrency manipulation.

Federal jurors in New York on Thursday found Avraham Eisenberg, 28, guilty of commodities fraud, commodities manipulation and wire fraud for his actions on Oct. 11, 2022, when his trading boosted the price of futures contracts by 1,300% in 20 minutes. Sentencing was set for July 29. He faces 20 years in prison on the wire fraud count and 10 years on each of the other charges.

Eisenberg, ...