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.
