Avi Eisenberg convicted of $110 million Mango Markets heist

A jury found Avi Eisenberg guilty of fraud and market manipulation after he stole $110 million from the Mango Markets defi protocol in October 2022. Although he tried to argue that "code is law", and that his actions were legal as they were allowed by the project's smart contracts, jurors ultimately agreed with prosecutors that his manipulation of token prices constituted fraud.

Shortly after he was identified as the person behind the attack, Eisenberg tweeted that he "was involved with a team that operated a highly profitable trading strategy last week. I believe all of our actions were legal open market actions". Sadly for him, jurors didn't share this belief.

Eisenberg faces up to 20 years in prison.