According to court findings, Eisenberg was found to have manipulated the price of MNGO, the platform’s token, causing it to surge approximately 1,000% in one hour. A few days after the exploit, Eisenberg claimed that his actions were part of a legal, highly profitable trading strategy, utilizing the platform’s features as intended. The trial, which started on April 9, spanned just over a week. During the trial, a U.K. customer testified about being unable to withdraw funds, losing $124,000.
Furthermore, it was revealed that jurors saw evidence of Eisenberg searching online for market manipulation criminal and FBI surveillance terms. This undermines his claim of using the platform’s features as intended. Mango Markets ultimately suffered a loss of around $116 million due to the exploit. The impact on investors and the platform has been significant, with real financial losses experienced by individuals who were unable to withdraw funds as well as the overall monetary hit to the platform itself.