SEC Sues Trader Over Alleged $116 Million Mango Crypto Scam (1)

The US Securities and Exchange Commission sued Avraham Eisenberg, alleging he orchestrated an attack on the crypto trading platform Mango Markets that allowed him to steal $116 million in digital assets.

“As we allege, Eisenberg engaged in a manipulative and deceptive scheme to artificially inflate the price of the MNGO token, which was purchased and sold as a crypto asset security, in order to borrow and then withdraw nearly all available assets from Mango Markets, which left the platform at a deficit when the security price returned to its pre-manipulation level,” David Hirsch, chief of the SEC’s Crypto Assets and ...