Mango Markets Hacker Avi Eisenberg Sentenced to 52 Months in Prison

Avraham “Avi” Eisenberg, the individual responsible for the $110 million exploit of the decentralized finance (DeFi) platform Mango Markets in 2022, has been sentenced to 52 months in prison. The sentencing was for his guilty plea to charges related to the possession of child sexual abuse material (CSAM).

This conviction comes despite his earlier conviction on crypto theft charges. A federal judge, however, has indicated that a retrial for the Mango Markets-related charges may be considered in the future.

Mango Markets Hacker Sentenced to 52 months

Avraham “Avi” Eisenberg sentence comes after a year-long legal battle concerning his role in the Mango Markets attack. Although the $110 million crypto theft was a big deal, it was the CSAM charges that ultimately drove his sentence. Amid this crisis, recently, an elderly victim in the US also fell for a Bitcoin theft scam worth around $330M.

In 2024, Eisenberg pleaded guilty to possession of more than 1,200 images and videos of child sexual abuse. 

As well, the content included depictions of minors, including infants. The judge said these offenses were serious enough to require a prison sentence to deter the distribution of such material. During the sentencing, U.S. District Judge Arun Subramanian noted Eisenberg’s efforts to come to terms with the pain caused by his actions.

Nevertheless, the judge argued that prison time was necessary. After his release, Eisenberg is also expected to serve five years of probation. He will also have to install monitoring software on his electronic devices and follow outpatient drug treatment programs as part of his probation condition.

Criminal History and Legal Arguments

Previously, Avraham “Avi” Eisenberg’s legal team argued the fraud charges concerning Mango Market exploit warranted a retrial. They argued the case should not be tried in the Southern District of New York.

The defense also questioned whether the MNGO Perpetual product that Eisenberg tampered with was categorized as the government maintained. However, the arguments did not matter to the court, which had already convicted him on wire fraud, commodities fraud and commodities manipulation for the 2022 hack of Mango Markets.

In a courtroom hearing in Manhattan, Judge Subramanian revealed that there is a “non-zero chance” of granting a motion for a retrial. However, the focus of the current sentencing was primarily on the CSAM charges. Eisenberg’s actions in the crypto theft, while serious, have not yet led to final sentencing.

Potential Retrial on Crypto Theft Charges

Despite his CSAM sentencing Eisenberg continues to receive legal support for his Mango Markets theft conviction appeal. Eisenberg’s defense argues that authorities failed to demonstrate their case sufficiently especially in establishing his deliberate actions.

A defense statement argues that Eisenberg followed Mango Markets protocol rules without personal financial gain and maintained control over the market. Their legal team demands either a dismissal of fraud charges or a new court hearing for relief.

The prosecution asserts Eisenberg intentionally participated in fraudulent schemes despite being fully aware of his criminal activities. The lawsuit Avraham “Avi” Eisenberg filed against another party for market manipulation occurred before his attack on Mango Markets. After his name became linked to the exploit attributing him with responsibility for the breach Eisenberg left the United States to settle in Israel. The government interprets his actions as indicating that Eisenberg recognized his activities were criminal.