SEC charges Mango Markets exploiter for allegedly stealing $116M in crypto

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The US Securities and Replace Commission has followed the Commodity Futures Trading Commission and others in submitting parallel charges in opposition to the crypto client allegedly in the help of a multimillion-dollar exploit of decentralized alternate Mango Markets.

In a Jan. 20 look, the SEC alleged Avraham Eisenberg manipulated Mango Markets’ MNGO governance token, permitting him to clutch roughly $116 million value of cryptocurrency from the platform. Per the criticism, Eisenberg allegedly done a series of wide MNGO purchases so as to artificially raise the value of the token relative to USD Coin (USDC), then drained the property from Mango Markets.

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