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Mango Markets hacker to argue bounty case in court

TL;DR

  • Mango Markets hacker to seek redress in court
  • Mango Markets wants the criminal to return the bounty
  • The platform seeks to revisit the theft case

Mango Markets hacker Avraham Eisenberg has declared that he wants to keep his part of the digital assets obtained from the hack. Therefore, according to the exploiter, the platform should allow him to hold on to the portion of digital assets obtained from his sophisticated trading strategy. The hacker was reacting to a lawsuit where Mango Markets demanded $47 million in damages. The lawyers of Eisenberg have since filed a motion to counter the claims by the crypto platform.

Mango Markets wants the criminal to return the bounty

Avraham Eisenberg was involved in the breach of Mango Markets, draining the platform of about $117 million in October 2022. The legal representatives of the hacker claimed that due to a clause already signed in the agreement with the platform, there was no need to pay any more fees to them.

The legal counsel argued that the matter was already resolved since both parties had put pen to paper at the time. The firm was said to have passed a proposal among those governing it that the hacker would be able to keep the $47 million they are now requesting. In addition, Mango Markets agreed it would not do a follow-up legal action against Eisenberg.

The platform wants to revisit the theft case

According to his legal counsel, after the hack took place, Eisenberg was mandated to return about $65 million to the platform, keeping the balance as a bug bounty. He also mentioned that after the funds were transferred, all the members owed were paid, and things went quiet from there on out. Mango Markets, in its suit, claimed that the agreement it had with the hacker should be canceled as conditions were not right when they were agreeing.

The platform mentioned that asides from the fact that the hacker refused to bargain legally, most of the decision that they made was not with a clear mind. However, the claims were refuted by Einsenberg’s legal representation as they stated that the firm wanted to use the lawsuit to push their client’s arrest in Puerto Rico by United States forces. Eisenberg has been charged with several cases for his crime by authorities like the FBI, CFTC, and the like. The authorities are charging him with fraud claims, market manipulation, and others. On his part, Eisenberg has denied any criminal activity stating that all his profitable trading strategy has been legal from the beginning.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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