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## Trader Convicted of Fraud for Exploiting Mango Markets Rules

A trader who allegedly exploited Mango Markets rules to steal a staggering $110 million from the exchange has been found guilty of fraud in the first US trial involving criminal charges related to cryptocurrency manipulation.

The convicted individual, Avraham Eisenberg, 28, was found guilty by federal jurors in New York. He was convicted on charges of commodities fraud, commodities manipulation, and wire fraud for his actions on a specific date in 2022. During this incident, Eisenberg’s trading activities reportedly caused a 1,300% increase in the price of futures contracts within a mere 20-minute timeframe.

## Possible Consequences and legal Ramifications

As a result of the verdict, Avraham Eisenberg now faces sentencing, scheduled for July 29. If the court rules against him, he could potentially be sentenced to 20 years in prison for wire fraud and 10 years each for the other charges.

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