Following a Puerto Rico court ruling, Avraham Eisenberg is expected to languish in jail awaiting trial. Justice fears that Eisenberg, who was arrested following his price manipulation on the Mango Markets protocol, will try to flee if ever he were released. A situation that contrasts very sharply with the treatment given to Sam Bankman-Fried.
Mango Markets manipulator soon imprisoned
The profile ofAvraham Eisenberg, Mango Markets manipulator recently arrested in Puerto Rico, seems to worry the judicial authorities. And for good reason, the one nicknamed “Avi” should await his trial in prison.
At a hearing following Eisenberg’s arrest, a U.S. magistrate judge said that it was impossible to guarantee the individual’s presence at his trial if he were to be released soon. The court also mentioned the possibility for Avi to escape to another country, the latter having a priori family ties in various countries located outside American jurisdiction but also because he has dual nationality.
Therefore, Puerto Rico court issues detention order for Avraham Eisenbergspecifying that the latter risked “ a long period of incarceration » if he were to be sentenced for the 2 counts of which he is the target, namely for fraud and for manipulation of raw materials.
🎙️ Listen to this article and all the crypto news on Spotify
Order our Book to understand everything about cryptos
Published by Editions Larousse
According to the court document issued on January 4, Eisenberg was already known to justiceincluding for: history of violence or use of weapons, history of alcohol or drug abuse, criminal history or for participation “in criminal activities during the period of probation, parole or supervision”.
Although the situation in which Eisenberg finds himself can be considered justified, we can only underline the contrast with the preferential treatment granted to Sam Bankman-Friedthe former CEO of FTX, who is currently living with his parents following his bail, which reached the staggering sum of $250 million.
As a reminder, following the price manipulation carried out on Mango Markets, Avi had decided to return $67 million of his loot to Protocol, which still left him with $37 million. According to the document issued by the court, these funds are now untraceable.
👉 In the DeFi news – Critical flaw in a Uniswap (UNI) smart contract – $40,000 reward for Dedaub
Progress in the world of cryptocurrencies with Cryptoast experts 📘
Source: Court document
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
538 items
