Avraham Eisenberg
10 crypto tweets that aged like milk: 2022 edition
To put it lightly, it has been a wild year for the crypto sector. In the span of less than 12 months, the third-most valuable stablecoin imploded, leading to a domino effect that saw crypto lender Celsius go bankrupt, Three Arrows Capital’s founders go runabout and one of crypto’s most “altruistic” executives flown home in cuffs. In this article, Cointelegraph has selected 10 crypto-related tweets that have aged like spoilt milk. Do Kwon — “Steady lads” On May 10, just as the algo-stablecoin formerly known as TerraUSD started to fall below its dollar peg, the Terraform Labs founder attempted to allay fears of a further depeg, tweeting: “Deploying more capital – steady lads.” Well, we all know what happened after. The collapse of the Terra ecosystem in May 2022 saw more than $40 billi...
Maybe it WAS illegal: Mango Markets exploiter arrested on fraud charges
The crypto trader behind the $110 million exploit of decentralized exchange Mango Markets has been arrested in Puerto Rico — and charged with market manipulation and fraud. According to a previously sealed complaint filed with the Southern District of New York and made public on Dec. 27, the Federal Bureau of Investigation (FBI) pinned Avraham Eisenberg with one count commodities fraud and one count of commodities manipulation in relation to his exploit of Mango Markets. Eisenberg’s Oct. 11 exploit of Mango Markets worked by manipulating the value of the platform’s native token, MNGO, artificially inflating its price relative to USD Coin (USDC). Eisenberg and his team then took out “massive loans” against its inflated collateral, which drained Mango’s treasury of around $110 million worth ...
Mango Markets exploiter said actions were ‘legal,’ but was it?
The $117 million Mango Markets exploiter has defended that their actions were ‘legal,’ but a lawyer suggests that they could still face consequences. Self-described digital art dealer Avraham Eisenberg, outed himself as the exploiter in a series of tweets on Oct. 15 claiming he and a team undertook a “highly profitable trading strategy” and that it was “legal open market actions, using the protocol as designed.” I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are. — Avraham Eisenberg (@avi_eisen) October 15, 2022 The Oct. 11 exploit worked through Eisenberg and his team manipulating the value of their posted collateral — the platforms’ n...
