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Avraham Eisenberg’s Trial Postponed: A Look into the $116 Million Hack

Avraham Eisenberg’s Trial Postponed to April 2024

The trial of Avraham Eisenberg, the individual behind the hack of Mango Markets in October 2022, has been postponed to April 2024, following a decision by Judge Arun Subramanian. Eisenberg is accused of exploiting the Mango Markets platform for an alleged amount of $116 million.

This decision comes after a request from Eisenberg’s lawyers, who pleaded for more time to examine the documents and legal files provided by US prosecutors.

“The government has produced numerous discoveries in this case on an ongoing basis […] that the defense is still analyzing and discussing with the client.“

Eisenberg’s lawyers added

A Necessary Postponement According to Eisenberg’s Defense

The defense argued that Eisenberg’s unexpected transfer to the Metropolitan Detention Center has hindered their preparation, preventing the transfer of important documents and limiting access to their client.

This situation contributed to the judge’s decision to postpone the trial, despite opposition from the prosecutors.

A $116 Million Hack Recap

Eisenberg admitted his involvement in the Mango Markets exploit but pleaded not guilty to charges of merchandise fraud, merchandise manipulation, and electronic fraud.

He even returned $67 million to Mango Markets’ Decentralized Autonomous Organization (DAO) as part of a bounty agreement before the Mango Markets team pursued further damages against him.

Eisenberg’s case is a reminder that the cryptocurrency ecosystem remains a frontier where the law is still establishing its authority.

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