- The accused crypto trader behind Mango Labs LLC refuses to pay more money.
- Avraham Eisenberg said he’s not accountable for more than the disputed amount of money.
- Mango Labs is suing Eisenberg and requested a federal judge in Manhattan to force him to repay the remaining funds.
The accused crypto dealer Avraham Eisenberg, behind the Mango Labs LLC scam last year. claims he shouldn’t be obliged to repay any more than the disputed cash.
According to a report published by Bloomberg, Eisenberg asserts that he has already repaid $67 million of the $114 million in tokens he acquired during his trading frenzy. Hence, he insists that he has complied with the terms of the settlement with the exchange’s governing board.
Mango Labs is suing Eisenberg and requested a federal judge in Manhattan to force him to repay the remaining funds. Moreover, the Commodity Futures Trading Commission and the Securities and Exchange Commission are also suing Eisenberg, after the crypto trader has been charged criminally.
Moreover, Eisenberg’s lawyers declared in a court filing that:
Eligible Mango Markets’ members received reimbursement from the Mango Markets treasury. At that point, all involved considered this matter closed and Mr. Eisenberg heard nothing further from Mango.
Meanwhile, Mango Labs reported that the agreement with Eisenberg should be thrown out because it was forced upon them. Additionally, Mango’s legal counsel is yet to respond to comments by the media.
Last year, Eisenberg was accused of manipulating the price of Mango perpetual swap and futures that permit investors to maintain open positions, using two accounts he controls on the Mango Markets exchange.
According to court documents, he was able to increase the price of the swaps by 1,300% in just 20 minutes and payout. The day following Eisenberg’s “malicious attack,” Mango Markets halted operations with the value of its MNGO tokens dropping to 2 cents.