Mango Markets Exploit event
Overview
Avraham Eisenberg extracted approximately $114 million from Mango Markets, a Solana-based decentralised exchange, on 11 October 2022. He used two accounts under his control to trade MNGO perpetual futures against each other, artificially inflating the token's oracle price by several orders of magnitude, and then borrowed against the inflated collateral. Eisenberg later identified himself publicly and returned around $67 million through a governance proposal, retaining roughly $47 million. The SEC and CFTC filed charges against him in January 2023, and a jury found him guilty of fraud and manipulation in April 2024. Those convictions were vacated by US District Judge Arun Subramanian on 23 May 2025, who granted Eisenberg's motion for acquittal.
Within The Counterparty graph, Mango Markets Exploit connects to 1 tracked entity, most strongly to Avraham Eisenberg.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
exploited_by | Avraham Eisenberg | 95% |
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.
Questions on the record
How was Mango Markets exploited?
Avraham Eisenberg established two accounts and executed large MNGO perpetual trades between them, artificially raising MNGO's reference price to enable borrowing against the position at a value exceeding its actual worth.
How much was taken and returned?
Approximately $114 million was extracted; Eisenberg returned about $67 million pursuant to a governance arrangement, retaining roughly $47 million.