A US federal judge has overturned fraud and manipulation convictions against Avraham Eisenberg, the trader involved in a $110 million decentralized exchange Mango Markets exploit. The judge ruled that the evidence did not support the jury's findings of false representations by Eisenberg. This decision nullifies his convictions for commodities fraud and market manipulation, weakening the government's case. Eisenberg was accused of inflating Mango's token price by 1,300% and withdrawing $110 million in crypto assets. The judge agreed with Eisenberg's defense that he exploited poorly designed code without deception. The court also dismissed the argument for the case to be heard in New York. While Eisenberg is cleared in the Mango Markets case, he still faces civil suits. Additionally, he is serving a prison sentence for possessing child pornography, unrelated to the crypto exploit charges. Read more AI-generated news on: https://app.chaingpt.org/news

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