Mango Markets Exploit Fallout Deepens as Fraudster Sentenced on Child Porn Charges

Avraham Eisenberg, infamous for orchestrating a $100 million exploit of Mango Markets in 2022, has been sentenced to 52 months in prison on child pornography charges. Despite the charges being separate from his crypto fraud, his legal troubles add to the controversy that has already plagued Mango Markets. In October 2022, Eisenberg manipulated a price oracle on the decentralized exchange, triggering a sharp selloff that saw the MNGO token lose more than half its value in a single day. The fraudulent episode, which led to significant losses for users, was compounded by a subsequent public sale of $70 million worth of MNGO tokens during Solana’s 2021 bull run, a sale closed to U.S. investors to sidestep regulatory hurdles. While the child pornography conviction has now been addressed with the sentencing, the fraud charges related to the Mango Markets incident remain unresolved and are still pending sentencing. This juxtaposition of criminal behavior and financial exploitation intensifies scrutiny on the platform and erodes investor confidence in the affected token.