Holpop News

The U.S. Securities and Exchange Commission (SEC), following the Commodity Futures Trading Commission (CFTC) and other regulators, filed charges against user Abraham Eisenberg, who committed an exploit of the decentralized Mango Markets exchange.
The SEC alleges that Eisenberg manipulated the price of the MNGO token, allowing him to steal about $116 million from the platform.
“Eisenberg used a manipulative and deceptive scheme to artificially inflate the price of the MNGO token, which was bought and sold as a crypto asset, to borrow and then withdraw nearly all available assets from Mango Markets. This action left the platform with a deficit when the security’s price returned to its pre-manipulation level,” said David Hirsch, head of the SEC’s Crypto Asset Division.