Defense Claims US Legal Jurisdiction Absent in DeFi Trade Prosecution for Mango Markets Hacker
During a heated courtroom session, federal prosecutors clashed with Avraham Eisenberg’s defense team today.
As Eisenberg faces charges for allegedly defrauding the Solana DeFi platform Mango Markets of over $100 million in 2022. The undisputed fact was Eisenberg’s involvement in draining the platform’s assets, with the legal debate focusing on whether such DeFi exploits fall under U.S. criminal law. Eisenberg’s attorney, Sanford Talkin, argued that prosecutors cannot prove the assets involved were commodities or that the transactions were commodity swaps, potentially rendering the charges irrelevant.
On the other hand, U.S. government attorneys framed the case as a tech-savvy version of traditional fraud, comparing it to selling fake goods. The case delves into complex DeFi intricacies, with Eisenberg’s exploit causing Mango Markets’ insolvency by manipulating token prices and borrowing against inflated assets.
Clever Robot News Desk 11th April 2024
