As Cointelegraph reported, the U.S. Attorney for the Southern District of New York filed a motion on September 18 opposing Mango Markets hacker Avraham Eisenberg’s request for an acquittal or a retrial.

Prosecutors for the Southern District of New York said the jury correctly convicted Eisenberg by evaluating a large body of evidence showing that the Mango perpetual swaps were governed by the Commodity Exchange Act.

Prosecutors stressed that Eisenberg’s defense — that fraud charges didn’t apply in the case because the defendants didn’t try to manipulate the market price of the underlying assets — was wrong, pointing to jury instructions on price manipulation.

Prosecutors for the Southern District of New York also rejected the defense's jurisdictional challenge, saying that since most of Mango Markets' key employees lived in Manhattan, the Southern District of New York had the jurisdiction to hear the case.

Mango Markets was hacked on October 11, 2024, resulting in a $100 million loss on the platform and a 52% drop in the value of the Mango token (MNGO) in 24 hours. Eisenberg later identified himself as the hacker on social media and argued that his actions were "legitimate open market actions."

In December 2024, Eisenberg was arrested in Puerto Rico and charged by the FBI with fraud and market manipulation. In April 2024, Eisenberg was convicted of fraud and market manipulation and could face up to 20 years in prison if sentenced to the maximum sentence.