Mango Markets Exploit event

Event · PageRank 0.0008

Overview

On 11 October 2022, Avraham Eisenberg drained roughly $114 million from Mango Markets, a Solana-based DeFi trading platform, by using two accounts he controlled to trade MNGO perpetual futures against each other and pump the token's oracle price by orders of magnitude, then borrowing against the inflated collateral. Eisenberg publicly identified himself and returned about $67 million via a governance proposal, keeping roughly $47 million. The SEC and CFTC charged him in January 2023, and a jury convicted him of fraud and manipulation in April 2024 — convictions that US District Judge Arun Subramanian vacated on 23 May 2025, granting his motion for acquittal.

Within the DeFi Intel graph, Mango Markets Exploit connects to 1 tracked entity, most strongly to Avraham Eisenberg.

Relations

Top connections in the DeFi Intel knowledge graph (confidence-weighted, 1 of 1 total).

Frequently asked questions

How was Mango Markets exploited?

Eisenberg opened two accounts and traded large MNGO perpetual positions between them, inflating MNGO's reference price so he could borrow far more against the position than it was genuinely worth.

How much was taken and returned?

About $114 million was drained; Eisenberg returned roughly $67 million under a governance deal and retained around $47 million.

Was Eisenberg convicted?

He was convicted by a jury in April 2024 of commodities fraud, commodities manipulation and wire fraud, but a federal judge vacated all criminal convictions on 23 May 2025 and granted acquittal.