A cryptocurrency trader accused of rigging the Mango Markets exchange and attempting to steal $110 million was arrested in Puerto Rico and charged with fraud by prosecutors in New York.
Avraham Eisenberg allegedly used two Mango Markets accounts he controlled to manipulate the price of Mango perpetual swaps, which are futures that allow traders to keep positions open. All he needed was 20 minutes to push up the price of the swaps by 1,300%, according to a criminal complaint unsealed Tuesday.
