SOL - Avi Eisenberg On Trial: Can A Profitable Strategy Be Criminal? | Benzinga
A landmark trial is set to begin this week in a case that could redefine the legal boundaries of decentralized finance.
What Happened: Crypto trader Avi Eisenberg faces charges of fraud and manipulation stemming from his actions in October 2022.
A diverse 15-person jury, featuring a mix of professions including a rare books seller and an elementary school music director alongside finance professionals, has been selected to deliberate on Eisenberg’s alleged scheme that targeted Mango Markets, a DeFi platform on the Solana (CRYPTO: SOL) blockchain.
The case stems from October 2022, when Eisenberg executed what he termed a “highly profitable trading strategy” that exploited Mango Markets, leading to the platform’s substantial losses.
Accused of manipulating the platform’s MNGO token price to borrow and extract $110 million in cryptocurrencies, Eisenberg’s ...