Feb 16, 2023
Eisenberg Seeks to Keep Crypto Gains from “Highly Profitable” DeFi Attack
Avraham Eisenberg, the alleged perpetrator of the decentralized finance protocol Mango Markets, is seeking to retain his share of the crypto assets he acquired through a purported “highly profitable trading strategy.” On Feb. 15, attorneys for Eisenberg filed a motion in a New York District Court objecting to a lawsuit from Mango that seeks $47 million in damages plus interest due to the October attack, which drained around $117 million from the protocol.
Eisenberg’s attorneys argued that a settlement agreement with Mango DAO should be honored, and that “all involved considered this matter closed.” The agreement saw Eisenberg retain a portion of the pilfered funds — $47 million — as a bug bounty, and Mango would not pursue legal action.
Mango, on the other hand, said the settlement should be voided as it was made “under duress” and alleged Eisenberg “was not engaged in lawful bargaining.” Eisenberg’s attorneys rebuffed these claims, saying the “improper three-month delay” for Mango filing its suit “undermines any alleged irreparable harm.”
Eisenberg was last seen publicly on a podcast in late October, just weeks after his alleged exploit of the platform. Following the draining of its treasury, a governance proposal was passed by the Mango DAO.
Eisenberg has previously stated his trades on Mango were “legal open market actions, using the protocol as designed,” and called his purported attack a “highly profitable trading strategy.”
The Federal Bureau of Investigation charged Eisenberg with commodities fraud and manipulation in December. He is also facing a lawsuit from the U.S. Commodity Futures Trading Commission that alleges market manipulation, and a suit from the Securities and Exchange Commission for violating securities laws relating to anti-fraud and market manipulation.
The incident has once again brought to the forefront the importance of NFT marketing and promotion, and the need for a web3 agency that specializes in selling NFTs. Twitter NFT marketing has become increasingly popular, and NFT marketing agencies are now offering a range of services to help artists and creators promote their NFTs.
The crypto space has seen a surge in NFTs in recent months, with many artists and creators turning to the technology to monetize their work. NFTs can be used to create unique digital assets, and are also being used to promote crypto projects. With the right NFT marketing strategy, creators and projects can reach a wide audience and increase the visibility of their NFTs.
NFTs are becoming increasingly popular in the crypto space, and with the right NFT marketing agency, creators and projects can maximize the potential of their NFTs. By leveraging the power of social media and other NFT marketing strategies, creators and projects can increase the visibility of their NFTs and reach a wider audience.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
