The sentencing of Avraham “Avi” Eisenberg, the notorious Mango Markets exploiter, has been delayed yet again, with the new date set for April 10, 2025. This decision follows a request from his defense team, citing the intricate nature of the sentencing process and the need for additional time to finalize objections to the Presentence Investigation Report.
Eisenberg’s case first grabbed headlines in October 2022, when he exploited a vulnerability in Mango Markets, a decentralized exchange, to siphon over $100 million. Despite returning around $67 million through a governance agreement, Eisenberg kept a big portion of the funds, leading to his arrest by the U.S. authorities in December 2022. He has remained in custody since then.
The ongoing legal proceedings have been anything but straightforward. Initially slated for sentencing on December 12, 2024, the hearing was moved to February 11, 2025, before being rescheduled once more to April.
Judge Arun Subramanian of the U.S. District Court for the Southern District of New York granted the latest adjournment, with prosecutors raising no objections.
Avraham “Avi” Eisenberg Could Face Up to 20 Years In Prison
Legal experts speculate that Eisenberg could face up to 20 years in prison if given the maximum sentence. However, his legal troubles might not end with criminal charges. Both the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have pending civil cases against him, which were temporarily paused in 2023 but are expected to resume after the criminal case’s conclusion.
The case is part of a broader crackdown by SDNY prosecutors on high-profile figures in the crypto world. Other notable cases include Sam Bankman-Fried of FTX, Do Kwon of Terraform Labs, and Celsius Network’s Alex Mashinsky.
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Source: https://www.cryptonewsz.com/mango-market-exploiter-avi-sentencing-april-10/