Mango Markets exploiter behind alleged $116M theft will stand trial in December

The criminal case against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets will be moving forward in the United States, with a trial scheduled for Dec. 4. 

According to court records filed on June 14, Judge Richard Berman of U.S. District Court for the Southern District of New York set Avraham Eisenberg’s trial date for Dec. 4. Eisenberg was allegedly responsible for executing a major Mango Markets exploit in October 2022, resulting in the theft of roughly $116 million in the governance token MNGO, USD Coin (USDC), and Marinade Staked SOL (mSOL).

Eisenberg has pleaded not guilty to 3 criminal counts for commodities fraud, commodity manipulation, and wire fraud related to the Mango Markets exploit. The platform reported in October 2022 that he had returned roughly $67 million of the funds, with the crypto user claiming at the time that his actions had been legal as part of a “highly profitable trading strategy”.

Related: Mango Markets sues Avraham Eisenberg for $47M in damages plus interest

Lawyers with the U.S. Attorney’s Office and Eisenberg’s defense team have until June 22 to submit pretrial motions regarding the schedule. He also faces separate civil suits filed in January from the Commodity Futures Trading Commission, Securities and Exchange Commission and Mango Markets.

The alleged Mango Markets exploiter has not posted to his Twitter account since authorities arrested him in Puerto Rico in December 2022 and transferred him to Oklahoma. He has largely been held in U.S. custody following a February hearing in which he waived his right to bail.

Magazine: Should crypto projects ever negotiate with hackers? Probably