Posted 4/8/2024, 11:08:00 PM
Crypto Trader's Trial Opens Tuesday Over Alleged $110M Mango Markets Manipulation
- Crypto trader Avi Eisenberg's trial opens Tuesday, accused of illegally manipulating Mango Markets to steal $110M
- Trial expected to last 2 weeks, will test if Eisenberg's "highly profitable trading strategy" broke the law
- Case represents government attempt to police alleged crimes in decentralized finance (DeFi)
- Eisenberg allegedly gamed Mango's futures contracts by manipulating token price then borrowing against his position
- Trial will delve into philosophical and practical questions about trading tokens on permissionless blockchains