From Cointelegraph

April 24, 2025 2:00 am:

US federal prosecutors are seeking a six and a half year prison sentence for Avraham Eisenberg, convicted of the $110 million Mango Markets exploit. Prosecutors argue the sentence is appropriate for wire fraud, commodities fraud, commodities manipulation, and possession of child pornography charges. Eisenberg’s legal team claims he profited $110 million from a legal trading strategy at Mango Markets.

Mango Markets announced it was winding down operations in January 2024, following a launch in August 2021. Eisenberg returned $67 million of the funds after the exploit, but retained over $40 million following a community governance vote. The exchange is seeking $47 million restitution to make everyone whole after Eisenberg’s conviction.

Eisenberg’s sentencing has been postponed multiple times since his December 2022 arrest. Initially scheduled for December 2024, it was delayed to February and then April 2025 due to sentencing complexity. Prosecutors argue that the restitution of misappropriated funds is crucial to righting the wrongs caused by Eisenberg’s actions.

Read more at CoinTelegraph: Prosecutors seek over 6 years prison for Mango Markets exploiter