US prosecutors seek at least 6.5 years in prison for Mango Markets attackers

PANews reported on April 24th that, according to Cointelegraph, US federal prosecutors are requesting at least 6.5 years of imprisonment for crypto user Avraham "Avi" Eisenberg. Eisenberg was found guilty in April 2024 of wire fraud, commodity fraud, and commodity manipulation for profiting $110 million by exploiting a vulnerability in the decentralized exchange Mango Markets in 2022. In documents filed on April 22nd, prosecutors recommended a sentence of 78 to 97 months, stating that the sentence reflects the severity of the crime and serves as a deterrent. Mango Markets announced its closure on January 11th, and its legal team submitted a statement the same day requesting the court order Eisenberg to return $47 million to compensate for losses. Eisenberg argued in court that his actions were a legal trading strategy and has since returned approximately $67 million, while retaining over $40 million through a community governance vote. The sentencing hearing, originally scheduled for December 2024, has been postponed multiple times and is now set for May 1st, 2025.