Avraham Eisenberg Negotiates Bail After $116M Crypto Heist

• Avraham Eisenberg is a crypto trader and alleged manipulator of Mango Markets who has been accused of draining $116 million from the exchange.
• He is currently in jail and working to negotiate bail, which he waived at his first hearing in U.S. District Court in New York on Thursday.
• Eisenberg is being sued by Mango Labs for $47 million due to the incident, and is charged with three criminal offenses including commodities fraud, commodities manipulation, and wire fraud

Avraham Eisenberg’s Alleged Exploitation of Mango Markets

Avraham Eisenberg has publicly admitted to draining $116 million from the crypto exchange Mango Markets. The 27-year-old crypto trader and alleged manipulator revealed himself to be part of the group that exploited the Solana-based decentralized finance (DeFi) lending protocol for this amount. After pulling off the heist – which Eisenberg described on Twitter as both legal and a “highly profitable trading strategy” – he returned $67 million to preempt any potential civil lawsuit against him by Mango Markets’ decentralized autonomous organization (DAO).

Legal Proceedings Against Avraham Eisenberg

Despite his attempt at reparations, Eisenberg is still being sued by Mango Labs for the remaining $47 million. Additionally, he has been indicted on three criminal offenses including commodities fraud, commodities manipulation, and wire fraud. On Thursday, Jan 2nd 2023, Eisenberg waived bail at his first hearing in U.S. District Court in New York and will stay in jail until at least Feb 14th 2023 while attempting to negotiate bail terms with McMillan LLP Partner Benjamin Bathgate discussing the latest legal developments related to this case..

Eisenberg’s Arrest & Detention

Eisenberg was arrested in Puerto Rico on Dec 26th 2020 and remained there until Wednesday when he was transferred into federal custody for arraignment proceedings before Judge Paul Grewal of U.S District Court Northern District Of California San Francisco Division . He was then sent back into federal detention pending further hearings on his status as an international fugitive from justice who had fled from Israel prior to his arrest..

Impact Of Avraham Eisenberg’s Actions

The actions of Avraham Einsenberg have had a major impact on cryptocurrency exchanges around the world as they consider how best to protect customer funds while also allowing robust trading activity without exposing themselves to such risks again . This case also highlights how regulators are beginning to take a much more active role in enforcing laws related to crypto markets , something investors should keep an eye out for going forward .


The case against Avraham Eisenberg provides insight into how serious allegations of exploitation within cryptocurrency exchanges can lead not only financial losses but also potentially long prison sentences depending upon what can be proven during court proceedings . It remains unclear if or when a settlement may be reached between all parties involved , though it appears that negotiations are ongoing between Mr . Einsenberg’s legal team , prosecutors , and representatives from Mango Labs regarding possible solutions that could bring some closure to this situation .