{"id":998,"date":"2023-02-16T10:01:47","date_gmt":"2023-02-16T15:01:47","guid":{"rendered":"https:\/\/embarrdowns.com\/eisenberg-accused-of-draining-117m-from-mango-labs-exchange-protocol-in-complex-scheme\/"},"modified":"2023-02-16T10:01:48","modified_gmt":"2023-02-16T15:01:48","slug":"eisenberg-accused-of-draining-117m-from-mango-labs-exchange-protocol-in-complex-scheme","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/eisenberg-accused-of-draining-117m-from-mango-labs-exchange-protocol-in-complex-scheme\/","title":{"rendered":"Eisenberg Accused of Draining $117M From Mango Labs Exchange Protocol in Complex Scheme"},"content":{"rendered":"

In October 2020, crypto trader, Eisenberg, was accused of using a complicated scheme to drain around $117 million from Mango Labs LLC’s exchange protocol. As a result, Mango Labs has sought to file a motion against Eisenberg in a New York District court, alleging that the settlement agreement was reached \u201cunder duress\u201d, and is therefore invalid and unenforceable.[0]<\/a><\/sup> Furthermore, the company is asking a federal court in Manhattan to order Eisenberg to pay back the rest of the money.[1]<\/a><\/sup><\/p>\n

Eisenberg has denied the charges, claiming that he did his part and that \u201celigible Mango Markets\u2019 members received reimbursement from the Mango Markets treasury\u201d.[0]<\/a><\/sup> His lawyers also said that \u201call involved considered this matter closed and Mr. Eisenberg heard nothing further from Mango Markets\u201d until the company sued him in January.[2]<\/a><\/sup><\/p>\n

In addition to the civil lawsuit, Eisenberg is also facing criminal charges and is being sued by the Commodity Futures Trading Commission and the Securities and Exchange Commission.[1]<\/a><\/sup> The case remains ongoing and the outcome is yet to be seen.<\/p>\n

0. <\/span>“Mango Market exploiter files to keep $47M bounty payment” CryptoSlate, 16 Feb. 2023, https:\/\/cryptoslate.com\/mango-market-exploiter-files-to-keep-47m-bounty-payment\/<\/a><\/a><\/p>\n

1. <\/span>“Accused Mango Labs Crypto Scammer Seeks to Keep Disputed Funds” BNN Bloomberg, 16 Feb. 2023, https:\/\/www.bnnbloomberg.ca\/accused-mango-labs-crypto-scammer-seeks-to-keep-disputed-funds-1.1884533<\/a><\/a><\/p>\n

2. <\/span>“Mango Markets exploiter seeks to keep disputed funds paid as \u2018bug bounty\u2019” Cointelegraph, 16 Feb. 2023, https:\/\/cointelegraph.com\/news\/mango-markets-exploiter-seeks-to-keep-disputed-funds-paid-as-bug-bounty<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In October 2020, crypto trader, Eisenberg, was accused of using a complicated scheme to drain around $117 million from Mango Labs LLC’s exchange protocol. As a result, Mango Labs has sought to file a motion against Eisenberg in a New York District court, alleging that the settlement agreement was reached \u201cunder duress\u201d, and is therefore invalid and unenforceable.[0]<\/a><\/sup> Furthermore, the company is asking a federal court in Manhattan to order Eisenberg to pay back the rest of the money.[1]<\/a><\/sup><\/p>\n

Eisenberg has denied the charges, claiming that he did his part and that \u201celigible Mango Markets\u2019 members received reimbursement from the Mango Markets treasury\u201d.[0]<\/a><\/sup> His lawyers also said that \u201call involved considered this matter closed and Mr. Eisenberg heard nothing further from Mango Markets\u201d until the company sued him in January.[2]<\/a><\/sup><\/p>\n

In addition to the civil lawsuit, Eisenberg is also facing criminal charges and is being sued by the Commodity Futures Trading Commission and the Securities and Exchange Commission.[1]<\/a><\/sup> The case remains ongoing and the outcome is yet to be seen.<\/p>\n

0. <\/span>“Mango Market exploiter files to keep $47M bounty payment” CryptoSlate, 16 Feb. 2023, https:\/\/cryptoslate.com\/mango-market-exploiter-files-to-keep-47m-bounty-payment\/<\/a><\/a><\/p>\n

1. <\/span>“Accused Mango Labs Crypto Scammer Seeks to Keep Disputed Funds” BNN Bloomberg, 16 Feb. 2023, https:\/\/www.bnnbloomberg.ca\/accused-mango-labs-crypto-scammer-seeks-to-keep-disputed-funds-1.1884533<\/a><\/a><\/p>\n

2. <\/span>“Mango Markets exploiter seeks to keep disputed funds paid as \u2018bug bounty\u2019” Cointelegraph, 16 Feb. 2023, https:\/\/cointelegraph.com\/news\/mango-markets-exploiter-seeks-to-keep-disputed-funds-paid-as-bug-bounty<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":997,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/998"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=998"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/997"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}