Avraham Ironberg, the Mango Markets victim, was detained by the United States District Court for the District of Puerto Rico in a fresh update to the story.
After holding a detention hearing United States Magistrate judge Bruce McGiverin decided Eisenberg was required to be held for several reasons. According to court documents, there is no condition or combination of conditions of Eisenberg’s release that will reasonably assure his appearance as required.
The court also stated other reasons. Eisenberg could be sentenced to a long term in prison if convicted. He also has significant family ties or other connections outside the United States.
A detention orders is a court order that can be made at a bail review. A detention order is a court order that the judge issues to the defendant. They will remain in custody until the case ends or until they are released following a bail review.
Eisenberg was arrested Dec. 28 on fraud charges, despite his description of the attack on crypto exchange as legal open market action. Mango Markets’ exploiter was arrested in Puerto Rico. He was charged with market manipulation fraud.
Related: $100M taken from Solana DeFi platform Mango Markets; token plunges 52%
Eisenberg claimed that the Mango Markets exploit is a legal matter in a social media thread dated Oct. 15. According to him, he was using the protocol as it was designed, and the act was simply a “highly profitable trading strategy.”