PANews reported on April 24 that according to Cointelegraph, U.S. federal prosecutors requested a minimum of 6.5 years in prison for crypto user Avraham "Avi" Eisenberg. Eisenberg was convicted of wire fraud, commodity fraud, and commodity manipulation in April 2024 for profiting $110 million by exploiting a loophole in the decentralized exchange Mango Markets in 2022. In a document filed on April 22, prosecutors recommended a sentence of 78 to 97 months in prison, saying that the sentence was consistent with the severity of the crime and would serve as a deterrent. Mango Markets announced on January 11 that it would cease operations, and its legal team submitted a statement on the same day, asking the court to order Eisenberg to return $47 million to compensate for the loss. Eisenberg argued in court that his operation was a legitimate trading strategy, and that he had since returned about $67 million, but retained more than $40 million through a community governance vote. The sentencing hearing, originally scheduled for December 2024, has been postponed several times, and the latest is scheduled for May 1, 2025.
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