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Crypto Trader's $110 Million Manipulation Trial Heads to Jury [Yahoo! Finance]
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exchange to steal $110 million or executed a perfectly legal strategy that was permissible under the rules of the platform. Most Read from Bloomberg Dubai Grinds to Standstill as Cloud Seeding Worsens Flooding Tesla Asks Investors to Approve Musk's $56 Billion Pay Again Red Lobster Considers Bankruptcy to Deal With Leases and Labor Costs Bankers Hit With Millions in Breakup Fees for Ditching New Jobs China Tells Iran Cooperation Will Last After Attack on Israel Prosecutors wrapped up their trial of Avi Eisenberg, 28, by arguing Wednesday he used fake trades of Mango's token, known as MNGO, to manipulate futures contracts on Oct. 11, 2022, which boosted the value of swaps by 1,300% in 20 minutes. He then allegedly stole platform assets by “borrowing” against those inflated contracts on the exchange. “This was old-fashioned manipulation and fraud,” Assistant US Attorney Peter Davis said during closing arguments. “He pumped the price and lied so he could steal people's mo
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