๐จCrypto trader Avraham Eisenberg found guilty of defrauding DeFi platform Mango Markets!๐ธ
- Eisenberg, 28, convicted on charges of commodities fraud, manipulation, and wire fraud.
- He manipulated the value of Mango's native token, MNGO, inflating his contracts by 1300% in 20 mins.
- Managed to withdraw $110M worth of various cryptos.
This is the first case of crypto market manipulation by the U.S. Department of Justice.๐ฎโโ๏ธ
- Eisenberg has agreed to return $67M to avoid further legal action.
- He's in custody, sentencing scheduled for July 29.
What's your take on this? Is DeFi safe? Share your thoughts below!๐ #DeFi #CryptoNews