Mango Markets

2021-08-01

Mango DAO and Blockworks Foundation begin raising funds through MNGO token sales; more than $70 million raised from hundreds of investors worldwide, later alleged by the SEC to constitute unregistered securities offerings.

2021-11-01

Mango Markets reaches peak TVL of approximately $210 million.

2022-10-11

Avraham Eisenberg executes oracle manipulation attack, pumping MNGO price over 2,300 percent via purchases on three spot exchanges and draining approximately $116 million in user funds from Mango Markets' lending pools.

2022-10-15

Mango DAO holds governance vote; approximately 98 percent of voters approve a settlement allowing Eisenberg to retain $47 million in exchange for returning roughly $67 million and the DAO's agreement not to pursue criminal charges.

2022-10-15

Eisenberg posts thread on Twitter claiming his actions constituted 'legal open market actions, using the protocol as designed.'

2022-12-23

DOJ files criminal complaint in SDNY charging Eisenberg with commodities fraud, commodities manipulation, and wire fraud; Eisenberg arrested in Puerto Rico.

2023-01-09

Federal grand jury returns indictment on three criminal counts; CFTC simultaneously files civil charges against Eisenberg for oracle manipulation, marking the CFTC's first such enforcement action on a decentralized exchange.

2023-01-20

SEC charges Eisenberg with violations of anti-fraud and market manipulation provisions of securities law, characterizing MNGO as a security.

2023-01-25

Mango Labs LLC files civil lawsuit against Eisenberg seeking $47 million plus interest and seeking to void the DAO settlement agreement.

2024-04-18

Following a nine-day jury trial in Manhattan, Eisenberg convicted on all three counts: commodities fraud, commodities manipulation, and wire fraud.

2024-09-27

Mango DAO, Blockworks Foundation, and Mango Labs settle SEC charges for $700,000; agree to destroy MNGO tokens and seek delisting from trading platforms.

2024-09-01

Mango DAO votes on a proposed $500,000 settlement with the CFTC for alleged failure to register as a commodities exchange and related violations.

2025-01-13

Mango Markets formally shuts down all operations including trading, lending, and borrowing.

2025-05-23

U.S. District Judge Arun Subramanian vacates all three criminal convictions against Eisenberg, ruling that venue was improper in SDNY and that the wire fraud charge lacked a material misrepresentation given the absence of terms of service on the platform.

2025-05-01

Eisenberg sentenced to four years and four months in prison on a separate charge of possession of child sexual abuse material discovered during his arrest; prosecutors appeal the crypto-related acquittal.