Federal Prosecutors Recommend Harsh Sentence for Eisenberg
U.S. federal prosecutors are urging a district court to sentence Avraham “Avi” Eisenberg to at least six and a half years in prison following his conviction in the $110 million Mango Markets exploit. In a filing dated April 22, prosecutors requested a sentence of 78 to 97 months, arguing that such a term would reflect the severity of his crimes, promote legal accountability, and deter future offenses.
Eisenberg was found guilty in April 2024 of wire fraud, commodities fraud, and market manipulation. He also faces separate charges related to possession of child pornography. The sentencing hearing is set for May 1 in New York before Judge Arun Subramanian.
Mango Markets Seeks $47 Million in Restitution
Mango Markets, which shut down operations earlier this year, is asking the court for $47 million in restitution. The decentralized exchange says the funds would help restore what was lost in the exploit and compensate Mango DAO and its community.
“Although Eisenberg’s attack cannot be undone, return of the funds he misappropriated is critical to righting his wrong,” the exchange said in an April 22 victim impact statement.
Eisenberg returned approximately $67 million shortly after the attack, but retained more than $40 million, citing a governance vote by the Mango community.
The exploit, carried out in 2022, effectively halted Mango Markets’ operations and tarnished its reputation. Eisenberg’s defense argued that his actions were part of a “legal trading strategy,” but the court disagreed, ultimately convicting him of fraud and manipulation.
The Exploit and Aftermath
The platform, originally launched in August 2021, announced on January 11, 2025, that it was winding down, with final operations ceasing by February 3.
Eisenberg’s sentencing has been delayed multiple times. Originally set for December 2024, it was later postponed to February and then April 2025. His legal team cited the complexity of the case as the reason for these delays.
