Mango Markets Fraudster Sentenced to 4 Years
During a hearing at the US District Court for the Southern District of New York, a judge imposed a 52-month sentence for the child pornography conviction, following charges brought in April 2024 after a 2023 guilty plea.
Although prosecutors suggested a joint sentencing with his high-profile crypto fraud case, only the former proceeded on May 1. The sentencing for the Mango Markets fraud remains pending.
Eisenberg’s legal issues date back to October 2022, when he manipulated a price oracle on the decentralized exchange Mango Markets, resulting in a $100 million loss of user funds.
This action caused a steep drop in the exchange’s MNGO token value, which halved in one day. Eisenberg claimed the tactic was legal, describing it as an open-market strategy, and later negotiated a partial fund return after insurance mechanisms failed.
