The US Court District Court for the Southern District of New York (SDNY) overturned a conviction against an individual, Avraham Eisenberg, for commodities fraud and commodities manipulation, and entered a judgment for acquittal on a conviction for wire fraud. The charges related to Eisenberg’s manipulation of the Mango Markets DeFi platform using the platform’s native crypto token (MNGO) and a related derivative (MNGO Perpetual), profiting in the amount of $110 million at the expense of the exchange and its investors.
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Court of Appeals Overturns Conviction in Mango Markets DeFi Manipulation Case
