Mango Markets crypto trader seeks acquittal or new trial

Avi Eisenberg’s team filed a 77-page motion for acquittal earlier this week

article-image

Dall-e modified by Blockworks

share

Avraham Eisenberg, who was convicted in a trial earlier this year, filed for a judgment of acquittal and a motion for a new trial earlier this week.

Judge Arun Subramanian granted the application, allowing Eisenberg’s legal team to move forward. 

The 77-page filing claims that the original trial was “improperly venued” in the Southern District of New York.

“There is simply not a sufficient connection between the evidence at trial and this District because not a single act performed in connection with the crimes of conviction took place in this District, let alone such an act that would have been foreseeable to Mr. Eisenberg,” the lawyers argued. 

Read more: Crypto trader convicted in $110M Mango Markets fraud trial

Eisenberg, at the time, was in Puerto Rico, which is more relevant to the case, lawyers said.

He was arrested in Puerto Rico, after allegedly fleeing, though his legal team argued he was receiving threats after he made off with over $110 million from Mango Markets.

Eisenberg was found guilty on three counts: commodities fraud, wire fraud and commodities manipulation. He was originally arrested in 2022 after prosecutors claimed he exploited $110 million by manipulating Mango Markets futures contracts and inflating swap prices. 

During his April trial, which lasted roughly a week, Eisenberg’s attorneys argued that their client employed a “successful, legal trading strategy.”

His team argued throughout the trial that Mango Markets allowed the trades to take place, which meant Eisenberg didn’t break the law. 

The prosecutors, however, said that it was “clear as day” that Eisenberg “knew” he was committing crimes. 

“The more he pumped, the more he could steal,” they argued earlier this year.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Private testnet aims to deliver low-cost settlement with partners including Visa, Deutsche Bank, and OpenAI

by Blockworks /
article-image

Solana saw $78 million in REV for August

article-image

Lit Protocol’s Vincent is shifting agentic finance from toy demos to production rails

article-image

The new system aims to unify Europe’s fragmented tokenized asset settlement and cut cross-border costs

by Blockworks /
article-image

Tron slashed fees by 60% as Plasma looms, threatening its USDT moat

article-image

The acquisition adds evaluation-based funding to Kraken Pro, giving traders access to capital on performance

by Blockworks /