A federal jury in New York found Avraham Eisenberg guilty of artificially manipulating the price of certain perpetual futures contracts on the Mango Markets exchange, according to the prosecution.

According to the prosecution, he concurrently bought and sold futures using two accounts based on the respective values of the USD Coin stablecoin and Mango's token, MNGO.

After being found guilty of wire fraud, commodities fraud, and commodities market manipulation, he may potentially receive a lengthy jail term when he is sentenced in July.

According to Nicole Argentieri, principal deputy assistant attorney general, "Avraham Eisenberg executed a manipulative trading scheme on a cryptocurrency exchange, defrauding the exchange and its investors out of $110 million."