Avraham Eisenberg is alleged to have participated in a scheme to steal approximately $110 million by manipulating the price of MNGO Perpetuals on Mango Markets, a decentralized cryptocurrency exchange. According to the government's criminal complaint, Eisenberg used an account he controlled on Mango Markets to sell and then buy a large amount of Perpetuals for MNGO and engaged in a series of large purchases of MNGO to increase its price relative to USDC, which caused the price of MNGO Perpetuals on Mango Markets to increase significantly. As a result of the market manipulation, Eisenberg was able to borrow and withdraw approximately $110 million worth of various cryptocurrencies from Mango Markets using the increased value of the MNGO Perpetuals he had purchased as collateral. When Eisenberg ceased manipulating the price of MNGO Perpetuals, the price fell significantly, causing other investors with deposits on Mango Markets to lose much or all of their deposits. Reuters Reports
