A jailed trader accused of stealing $110 million on the Mango Markets exchange faces a criminal trial this week that will test the reach of a US crackdown on cryptocurrencies.
Prosecutors charged Avraham Eisenberg with manipulating Mango Markets futures contracts on Oct. 11, 2022, to boost the price of swaps by 1,300% in 20 minutes. He then “borrowed” from the exchange against the inflated value of those contracts, a move the government claims was a theft.
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David Voreacos
https://www.bloomberg.com/news/articles/2024-04-08/crypto-scam-criminal-trial-tests-code-is-law-claim-by-trader
2024-04-08 07:00:00
