Following the exploit, Eisenberg claimed he negotiated a settlement with Mango Markets’ insurance fund to ensure users retained their money.
Prosecutors for the United States Southern District of New York (SDNY) filed a motion on Sept. 18 opposing Mango Markets exploiter Avraham Eisenberg’s request for acquittal or a new trial.
According to the documents filed by SDNY attorneys, the jury correctly convicted Eisenberg by evaluating a “mountain of evidence” beginning with the prosecution’s assertion that Mango perpetual swaps are subject to the Commodities Exchange Act.
The federal prosecutors stressed that Eisenberg’s defense — arguing the fraud charges do not apply in the case because the defendant did not seek to manipulate the market price of the underlying asset — were materially incorrect and noted the jury instructions on price manipulation. Attorneys for the Southern District of New York asserted:
