Description
The DOJ charged Eisenberg, an individual crypto trader, for manipulating the price of perpetual futures contracts on the Mango Markets exchange in a scheme to steal roughly $110 million. A federal jury in Manhattan convicted Eisenberg for unlawfully taking $110 million from Mango Markets.
Legal Significance
This conviction was the first ever in a cryptocurrency market manipulation case. However, the verdict may be appealed as Eisenberg’s lawyers refer to the charges as a misguided and legally defective attempt to wade “into uncharted waters” to criminalize trades made in a regulatory gray area.
Status
Complaint Filed
Case No.
1:23-cr-00010
Date Filed
January 9, 2023
Plaintiff
United States of America
Defendant
Abraham Eisenberg
Court
USDC Southern District of New York
Plaintiff Counsel
Thomas Somerset BurnettPeter John DavisTian HuangNoah David Solowiejczyk
Defendant Counsel
Greenberg Traurig LLPTalkin Muccigrosso & Roberts LLPWaymaker LLP
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