The United States District Court for the District of Puerto Rico issued an order of detention for Mango Markets exploiter Avraham Eisenberg.
The decision follows a detention hearing, where it was concluded that "the defendant must be detained pending trial because the Government has proven: By a preponderance of evidence that no condition or combination of conditions of release will reasonably assure the defendant's appearance as required."
Eisenberg's potentially lengthy incarceration period, if convicted, and his significant ties outside of the United States were also cited as reasons driving the decision.
Eisenberg was arrested on Dec. 28 for market manipulation and fraud charges relating to the exploit of Solana-based decentralized exchange Mango Markets, which he admitted to being at least partially behind. At the time, he claimed it was a legal act on the basis that he used the protocol as it was designed.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.