A US federal judge has vacated key fraud and manipulation convictions against Avraham Eisenberg, involved in a $110 million exploit of the decentralized exchange Mango Markets. US District Judge Arun Subramanian ruled that the evidence at trial was insufficient to support the jury's conclusion that Eisenberg made materially false representations. This ruling clears him of convictions for commodities fraud and market manipulation, significantly weakening the government's case. Eisenberg had drastically influenced the price of Mango's MNGO token, allowing him to withdraw $110 million in crypto assets. His defense argued he merely exploited poorly designed permissionless code without false representations, a view supported by the judge. Additionally, the judge dismissed the government's argument for New York as the venue for the trial, concluding that meaningful activity tied to the alleged crime did not occur there. While this ruling vacates the charges in the Mango Markets case, Eisenberg remains in custody due to unrelated charges of possessing child pornography.

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