Mango Markets sued Abraham Eisenberg for $47M in damages plus interest.

Mango Labs, the company behind the decentralized finance (DeFi) protocol Mango Markets, has filed its lawsuit against exploiter Avraham Eisenberg.

January 25 Filing In the United States District Court for the Southern District of New York, Eisenberg is accused in October 2022 of exploiting his platform for millions of dollars worth of cryptocurrencies.

It seeks $47 million in damages, plus interest from the time of the attack.

It also asked the court to void the agreement entered into between Eisenberg and Mango’s respective DAOs, declaring it “void and unenforceable.”

Eisenberg (right) discusses his exploitation of mango markets with journalist Laura Shin in an episode of the Unchained podcast on Oct. 28, 2022. Image: Youtube

The agreement was in connection with a governance proposal presented by Eisenberg who asked the DAO to allow them. to keep $47 million with the stipulation that Mango Markets will not pursue criminal charges for embezzlement of its coffers.

In the latest complaint, Mango Labs alleges that Eisenberg “did not engage in lawful bargaining,” adding:

“[Eisenberg] Mango forced the DAO to enter into an unenforceable settlement agreement — under duress — to release the depositors’ claims against it and to insulate them from criminal investigation.

An attacker on October 11, 2022 About $117 million was lost. By manipulating the value oracle data of its local MNGO token from Mango Markets’ treasury, it allows them to take out unsecured loans.

After that, Eisenberg kicked himself out as an attacker. They claimed that the exploit was a “highly profitable trading strategy” and that it was a “legitimate open market action, using the protocol as designed”.

On December 27, Eisenberg was Arrested in Puerto Rico And the Federal Bureau of Investigation (FBI) has each been charged with fraud and manipulation of commodities for its attack on the platform.

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Commodity Futures Trading Commission (CFTC) FBI charges followed. On January 9, pinning Eisenberg with two counts of market manipulation.

On January 20, the Securities and Exchange Commission (SEC) dealt Eisenberg another blow Allegations of Violations U.S. securities laws relating to anti-fraud and market manipulation.

Mango Labs’ suit claimed Eisenberg is “a notorious online figure” with a “history of attacking multiple cryptocurrency platforms and manipulating cryptocurrency markets.”

Eisenberg has tried to exploit other protocols, he used a Lots of fancy shorts November 22 Attempt to leverage DeFi protocol Aave.

Attorneys retained by Mango Labs did not immediately respond to a request for comment. Mango Markets could not be reached for comment.