Categories: Analysis

Crypto trader convicted of $110 million fraud

A cryptocurrency trader has been convicted of fraud in connection with a $110 million market manipulation case.

Avraham Eisenberg was convicted in a federal court in New York after prosecutors accused him of artificially manipulating the price of certain perpetual futures contracts on the Mango Markets exchange.

Prosecutors say he used two accounts to simultaneously buy and sell futures based on the relative values ​​of Mango’s token MNGO and the USD Coin stablecoin.

He was convicted of commodities fraud, commodities market manipulation and wire fraud and could now face decades in prison when he is sentenced in July.

Assistant Attorney General Nicole Argentieri says, “Avraham Eisenberg carried out a manipulative trading scheme on a cryptocurrency exchange and defrauded the exchange and its investors of $110 million.”

David Brooks

Recent Posts

Here Is Why Altcoin Season May Be Closer Than You Think

Key Insights Analysts have identified a bullish inverse head-and-shoulders pattern in the Altcoin Season Index,…

10 hours ago

The Bitcoin rally indicates a real breakthrough in the crypto market

When it comes to the crypto market, the last seven months can best be summed…

3 days ago

In outreach to Black men, Harris to vow to legalize weed, protect crypto

As the 2024 presidential race intensifies, Vice President Kamala Harris is unveiling a powerful strategy…

3 days ago

Bitcoin price hits $66K as analysis asks, ‘Has Uptober begun?’

Bitcoin bulls are wasting no time in driving a robust rebound, which has now propelled…

3 days ago

A Beginner’s Guide to Crypto Profit and Loss Tracking

Regardless of whether you are engaging with Bitcoin, Ethereum, or any other cryptocurrency, our calculator…

4 days ago

Crypto Casino Lucky Block Offers A $50,000 Rolex Jackpot Prize

Table of Contents Lucky Block Offers 200 USDT Daily, Two Rolex Watches, and a Lamborghini…

4 days ago

This website uses cookies.