CFTC klagt Avraham Eisenberg wegen Missbrauchs des Mango-Marktes an

• Die CFTC verklagte Avraham Eisenberg, einen Digitalkünstler, wegen zwei Anklagen wegen Marktmanipulation im Zusammenhang mit Mango Market Exploits.
• It claims that Eisenberg “engaged in a manipulative and deceptive scheme to artificially inflate the price of swaps offered by the DeFi platform.”
• Gretchen Lowe erklärte, dass die Regulierungsbehörde alle verfügbaren Durchsetzungsinstrumente nutzen werde, um Betrugs- und Manipulationsvorwürfe aggressiv zu verfolgen.

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On January 9, the United States Commodity Futures Trading Commission (CFTC) filed a lawsuit against Avraham Eisenberg, a self-described digital artist, for two charges of market manipulation related to last year’s major exploit of decentralized financial platform Mango Markets. Eisenberg is currently in police custody after being detained on related charges on December 27.

Nach to the regulatory agency, between October 11, 2022, and October 15, 2022, Eisenberg “engaged in a manipulative and deceptive scheme to artificially inflate the price of swaps offered by Mango Markets, a decentralized digital asset exchange, culminating in the misappropriation of over $100 million from the platform.”

Moreover, the self-described digital artist allegedly purchased more than 400 million MNGO-USDC swaps on Mango Markets with a position size of around $19 million. The CFTC claims that the defendant then purchased “large quantities” of MNGO tokens on the Oracle Exchanges over a span of less than 30 minutes. 

The rise in the price of MNGO was advantageous to Eisenberg, who borrowed cryptocurrencies worth around $144 million from Mango Markets at a higher price. After this, the price of Mango Market’s native token fell, leaving the platform illiquid. The CFTC stated that the artist’s actions resulted in a “wash transaction.”

Acting Director of Enforcement Gretchen Lowe stated that CFTC “will use all available enforcement tools to aggressively pursue fraud and manipulation regardless of the technology that is utilized. The CEA prohibits deception and swap manipulation, whether on a registered swap execution facility or on a decentralized blockchain-based trading platform.”

Die Regulierungsbehörde behauptete weiter:

“The goal of Defendant’s scheme was straightforward: to artificially inflate the value of his swap contract holdings on Mango Markets through price manipulation, so that he could ‘borrow’ a significant amount of digital assets that he had no intention to repay.”

However, the defendant’s manipulation led to an illusion about the value of his collateral. In order to stop manipulating MNGO and the MNGO-USDC Swaps after “borrowing” digital assets from Mango Markets, the defendant transferred the borrowed digital assets out of his Mango Markets account.

Der Wert seiner MNGO-USDC-Swaps fiel gleichzeitig, als der Preis von MNGO unter sein Niveau vor der Manipulation fiel. Dies führte dazu, dass die Kredite der Beklagten stark unterbesichert wurden, sodass Mango Markets fast mit leeren Händen dastand.

In einem Tweet vom 15. Oktober 2022 gestand Eisenberg, dass er hinter dem Angriff auf Mango Markets steckte, und argumentierte, dass seine Handlungen gerechtfertigt seien. Eisenberg hat zuvor anonym eine Bug-Prämie von 70 Millionen USD Coin (USDC) oder $70 Millionen gefordert. Die Community von Mango Markets stimmte dagegen, rechtliche Schritte gegen ihn einzuleiten ließ ihn die $47 Millionen behalten.

Ich glaube, dass alle unsere Aktionen legale Offenmarktaktionen waren, wobei das Protokoll wie entworfen verwendet wurde, auch wenn das Entwicklungsteam nicht alle Konsequenzen der Einstellung der Parameter so vorausgesehen hat, wie sie sind.

— Avraham Eisenberg (@avi_eisen) 15. Oktober 2022

“All mango depositors will be made whole. By voting for this proposal, mango token holders agree to pay off the bad debt with the treasury, and waive any potential claims against accounts with bad debt, and will not pursue any criminal investigations or freezing of funds once the tokens are sent back as described above,” read the governance proposal.

Es ist interessant festzustellen, dass Eisenberg am 27. Dezember vom US-Justizministerium in Gewahrsam genommen und wegen einer Anklage wegen Warenbetrugs und einer Anklage wegen Warenmanipulation angeklagt wurde. Die CFTC hat ihm vorgeworfen, gegen das Commodities Exchange Act und mehrere andere Kommissionsvorschriften verstoßen zu haben.

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