Avraham “Avi” Eisenberg, who was convicted of fraud and market manipulation related to an exploit of the Mango Markets decentralized exchange, will be sentenced on April 10.
In a Jan. 8 filing in the US District Court for the Southern District of New York (SDNY), Judge Arun Subramanian adjourned Eisenberg’s sentencing to April 10 after a request from his lawyers. He was initially scheduled to be sentenced on Dec. 12, which was postponed to Feb. 11. Eisenberg was convicted in April 2024.
His legal team requested a further delay on Jan. 7 due to “the factual record of the case and the complexity of some of the sentencing issues.” The US prosecutor’s office did not object to the change.
Avi Eisenberg’s request to delay sentencing. Source: Courtlistener
Eisenberg was held responsible for hacking Mango Markets through an exploit in October 2022, draining more than $100 million from the platform. He returned about $67 million but retained more than $40 million following a governance vote by the community. US authorities arrested Eisenberg in December 2022, and he has been in custody for about two years.
If sentenced to the maximum time serving consecutively, Eisenberg may face as long as 20 years behind bars.
Related: SEC files ‘settled charges’ against Mango Markets operators
Following his sentencing, Eisenberg may also face civil enforcement actions from the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Both cases were stayed in March 2023 but could resume after the conclusion of the criminal case.
SDNY prosecutors have been responsible for bringing cases against many high-profile figures in the crypto industry, including former FTX CEO Sam Bankman-Fried, Terraform Labs co-founder Do Kwon and former Celsius CEO Alex Mashinsky. Kwon, who was recently extradited to the US from Montenegro, is scheduled to go to trial in January 2026.
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