• Mango Markets has filed a lawsuit against exploiter Avraham Eisenberg for $47M in damages.
• The lawsuit alleges that Eisenberg manipulated the native token MNGO and converted $114 million from the depositors of the protocol into his own accounts.
• Eisenberg is also in legal battles with several US federal and regulatory agencies.
Mango Markets has made headlines as the company has filed a lawsuit against exploiter Avraham Eisenberg for an astonishing $47 million in damages. The filing was made with the United States District Court for the Southern District of New York and the lawsuit claims that Eisenberg executed a malicious attack on Mango Markets.
The attack involved the manipulation of the native token MNGO and the conversion of nearly $114 million from the depositors of the protocol into his own accounts. This was done through “fraud and deception” according to the lawsuit. Furthermore, the lawsuit states that a Mango Markets-related decentralized autonomous organization (DAO) and Eisenberg had entered into an agreement that enabled the exploiter to keep his activities hidden from the authorities.
Eisenberg is already facing legal battles with several US federal and regulatory agencies and this new lawsuit could mean even more trouble for him. Mango Markets is seeking the full $47 million in damages from Eisenberg and is hoping to recover the $114 million that was stolen from the depositors of the protocol.
The lawsuit is a reminder to the crypto community that such malicious attacks can occur and that users should take steps to ensure their funds are safe. It will be interesting to see how this case plays out and whether Mango Markets will be able to recover its losses.