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ARTICLE · 01 FEBRUARY 2023

Crypto Trader's "Profitable Trading Strategy" Appears To Be Mere Market Manipulation

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The DOJ, SEC, CFTC, and Mango Markets disagree, and are alleging Eisenberg's conduct constitutes illegal market manipulation.

United StatesTechnology
Danielle Giffuni
Danielle Giffuni
Chris Murphy
Chris Murphy

The fallout continued last week for embattled crypto trader Avraham Eisenberg, as Mango Labs filed litigation in the Southern District of New York to recover $47 million Eisenberg drained from decentralized crypto lending platform Mango Markets by manipulating the value of the Mango Markets native token. The lawsuit from Mango Labs is just the latest in a series of actions against Eisenberg, who was arrested by U.S. law enforcement officials in Puerto Rico in December, and charged by the Department of Justice ("DOJ") with commodities fraud and commodities manipulation. Following his arrest, the Commodity Futures Trading Commission ("CFTC"), U.S. Securities and Exchange Commission ("SEC"), and now Mango Labs have proceeded to bring parallel claims against Eisenberg.

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