The U.S. Commodity Futures Trading Commission (CFTC) brought manipulation charges against Mango Markets exploiter Avraham Eisenberg on Monday, just weeks after he was arrested by the U.S. Department of Justice (DOJ) on similar charges.

A lawsuit dated Monday alleges that Eisenberg violated federal commodities law by using a "manipulative or deceptive device" to manipulate the price of the MNGO token through swaps, and also that he engaged in "manipulation of a swap" for his role in exploiting Mango Markets in October. More than $100 million in crypto was taken from the decentralized exchange after a trader used multiple accounts to buy, sell and hedge the price of the MNGO token.

Eisenberg later said he was part of a group that "operated a highly profitable trading strategy" and would return some of the funds to Mango. In later tweets he said he believed his actions were legal. The Justice Department arrested him roughly two months later on market manipulation charges.

Like the DOJ, the CFTC pointed to Eisenberg's public statements, saying he "admit[ted] to his scheme" in a Discord server prior to the exploit and in tweets after the funds were drained.

"Contrary to his purported belief that his actions were legal, in fact, they constituted blatant manipulation of spot prices and swaps," the CFTC said.

Eisenberg, who was arrested in Puerto Rico near the end of 2022, remains detained pending trial.

Regulations Mango Markets CFTC DOJ Avraham Eisenberg

Nikhilesh De

Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. When he's not reporting on digital assets and policy, he can be found admiring Amtrak or building LEGO trains. He owns < $50 in BTC and < $20 in ETH. He was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.