The SEC has accused Avraham Eisenberg of manipulating the Mango Markets platform by manipulating the MNGO token, which the company allegedly sold as a security.
The United States Securities and Exchange Commission, along with the Commodity Futures Trading Commission and other institutions, made a parallel charge against this data encryption customer, who was suspected of using the decentralized exchange Mango Markets to carry out millions of dollars of exploitation.
In a notice on January 20, the SEC accused Avraham Eisenberg of manipulating the MNGO remediation token of Mango Markets, allowing me to steal about $116 million worth of digital currency from the website. According to the report, Eisenberg learned that he had implemented a series of large and medium-sized MNGO shopping, raised the price of tokens compared with the United States dollar (USDC) based on people, and then absorbed property from the green awn sales market.
Peter Hirsch said: "Eisenberg participated in a manipulative and fraudulent plan and artificially raised the price of the MNGO token, which was directly purchased and sold as a security of encrypted assets, with the purpose of raising funds and acquiring most of the available property in the Green Mang sales market. When the security price returned to the level before the normal manipulation, the website fell into a deep loss.", The head of the encryption assets and internet department of the SEC.
The U.S. Securities and Exchange Commission, with the help of the Southern District Attorney's Office of New York City, the Federal Bureau of Investigation and the U.S. Commodity Futures Trading Commission, accused Eisenberg of violating the risk control system and market manipulation requirements of the securities law. According to the statement of the financial regulatory authority, this will look for "permanent injunction relief, restrictions based on illegal acts, evictions with prejudgment rights and civil litigation punishment".
It is reported that Eisenberg undertook to implement an important development and design of the green awn sales market in October, and recovered about US $50 million worth of USDC, US $27 million worth of Marinade Stacked SOL (mSOL), US $24 million worth of SOL and US $15 million worth of MNGO. Mango Markets later reported that assets valued at about $67 million were returned. Eisenberg made it clear that in his view, their behavior was reasonable and was part of the "high-yield quantitative trading strategy".
The Government arrested Eisenberg in Puerto Rico in December. The Federal Bureau of Investigation complained that Eisenberg "intentionally and deliberately" participated in a permanent futures market plan involving "intentional and human factors manipulating" data encryption software. CFTC then filed a lawsuit on January 9, accusing Eisenberg of manipulating the sales market.
After the detention hearing system in January, a local judge ordered Eisenberg to be detained for trial, because that was the only way to ensure his presence in court. The exploiter of the green awn sales market has not posted in his Twitter account since he was arrested in December last year.