Avraham “Avi” Eisenberg, the Mango Markets exploiter, has been sentenced to over four years in federal prison for possessing child sexual abuse material (CSAM) in the Southern District of New York. The sentencing comes after Eisenberg pleaded guilty to possessing nearly 1,300 images and videos of child sexual abuse that he downloaded between 2017 and 2022. The disturbing content was discovered during Eisenberg’s arrest in December 2022 on criminal charges related to the Mango Markets exploit.
The images and videos found in Eisenberg’s possession included content involving toddlers and depicted sadistic violence and masochism against children, according to U.S. federal prosecutors. This shocking revelation sheds light on the heinous nature of the crimes committed by Eisenberg.
This sentencing comes almost a year after Eisenberg was found guilty by a federal jury for committing commodities fraud, commodities market manipulation, and wire fraud in connection with defrauding Mango Markets. In October 2022, Eisenberg manipulated the price of the MNGO token, causing it to surge by over 1000% in just one hour. He used collateral from fraudulent trades to steal over $110 million in digital assets, leading to a 50% crash in the MNGO token.
Despite his guilty verdict, Eisenberg has maintained his innocence, claiming that he was engaged in a “legal trading strategy” and had nothing to hide. However, U.S. prosecutors argue that Eisenberg saw Mango Markets as an opportunity for exploitation, taking advantage of unsuspecting users looking to make lawful returns on their investments.
Eisenberg is facing a potential sentence of up to two decades behind bars and is scheduled to be sentenced on July 29. Currently housed at the Metropolitan Detention Center in New York, the same facility that housed FTX fraudster Sam Bankman-Fried following the collapse of the crypto exchange, Eisenberg’s crimes have had far-reaching consequences.
The case of Avraham Eisenberg serves as a stark reminder of the dangers of exploitation and abuse in the cryptocurrency world. It highlights the importance of stringent regulations and oversight to protect investors and prevent criminal activities in the digital asset space. The sentencing of Eisenberg sends a strong message that such crimes will not be tolerated, and perpetrators will be held accountable for their actions.