Hacker who hacked Mango Markets protocol found guilty of fraud

A Manhattan jury found a Puerto Rican individual, Avraham Eisenberg, guilty of fraud for hacking Mango Markets. The final verdict from the New York District Court is scheduled to be delivered on July 29, marking the end of the trial.

In October 2022, the Mango Markets decentralized finance protocol operating on the Solana network fell victim to a cyberattack. The attackers managed to siphon off assets worth a staggering $116 million. Authorities promptly connected the hack to Avraham Eisenberg, who was subsequently apprehended in Puerto Rico and extradited to the United States.

The defendant has been charged with wire fraud, which carries a potential prison sentence of 20 years. However, Eisenberg’s defense team argues that all of his transactions within Mango Markets were legitimate and aboveboard, adhering to the rules of the decentralized protocol.

“We are unquestionably disheartened by the outcome, but we will continue advocating for our client and intend to submit several post-trial motions,” stated Eisenberg’s lawyers in response to the guilty verdict.

In an unrelated incident, Chirag Tomar, an Indian citizen, was apprehended in the U.S. in late 2023. Tomar admitted to orchestrating a scam involving a counterfeit Coinbase exchange website, through which he managed to steal a significant sum of $9.5 million.