Mango Markets Exploiter Must Stay Detained Pending Trial, Court Rules

Avraham Eisenberg may be a risk to flee the U.S., a judge in Puerto Rico suggested.

AccessTimeIconJan 5, 2023 at 10:55 a.m. UTC
Updated Jan 5, 2023 at 7:52 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Avraham Eisenberg, the perpetrator of a $110 million exploit on decentralized crypto exchange Mango Markets, must remain in jail pending trial, a Puerto Rico court has ruled, according to documents posted Wednesday.

Bruce McGiverin, a judge at the Puerto Rico District Court, cited family ties outside the U.S. and a potential “lengthy period of incarceration” if Eisenberg is convicted for commodities fraud and manipulation. He said the government has no proof that Eisenberg would appear in court again if he is released.

The judge also cited up to $40 million of appropriated cryptocurrency that remains unaccounted for, together with Eisenberg’s dual citizenship as reasons for detention, suggesting that he might again try to flee the U.S.

Eisenberg, who was arrested last week, described the exploit in October as a “highly profitable trading strategy.” He may now become the first U.S. resident to face charges for manipulating a decentralized-finance (DeFi) trading platform.

His treatment contrasts with that of former FTX CEO Sam Bankman-Fried, who was just before Christmas released on $250 million bail after being charged with crimes including money laundering and conspiracy to commit wire fraud.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jack Schickler

Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.