The cryptocurrency trader responsible for the theft of $110 million on decentralized exchange Mango Markets has been arrested in Puerto Rico and is facing charges of market manipulation and fraud.

The Federal Bureau of Investigation (FBI) charged Avraham Eisenberg with one count of commodity fraud and one count of commodity tampering in connection with his exploitation of Mango Markets, as stated in a complaint that was kept secret until it was made public. December 27. The complaint was filed with the Southern District of New York.

The hack that Eisenberg carried out on Mango Markets on October 11 was successful because it included changing the value of the platform’s native token, MNGO, and artificially increasing its price compared to USD Coin. After that, Eisenberg and his team took out large loans against Mango’s inflated collateral, resulting in Mango’s treasury being depleted by around $110 million in a variety of cryptocurrencies.

A few days later, on October 15, Mango Markets stated that a total of $67 million worth of cryptocurrency and other digital assets had been redeemed.

Following this, Eisenberg publicly admitted that he had taken advantage of the cryptocurrency exchange. He said that he was a member of a group that executed a trading strategy that generated a significant amount of profit, and stated that he believed that all of his actions were legal actions on the open market that are legal.

In its most recent complaint, the FBI stated that Eisenberg’s actions constitute fraud and market manipulation because he deliberately and knowingly engaged in a scheme involving intentional and artificial market manipulation. Regarding the cost of Mango Markets perpetual futures contracts. Because of this, he was eventually able to withdraw cryptocurrency totaling $110 million, most of which originated from deposits made by other Mango Markets investors.

Racz said that Eisenberg may have been aware that his acts were also illegal, since the day after the Mango Markets exploit, Eisenberg traveled from the United States to Israel.

According to a document filed by the United States Attorney for the Southern District of New York, Eisenberg was arrested on December 26 in Puerto Rico.

In November, Eisenberg tried his hand once more, this time on the decentralized finance (DeFi) system Aave. He borrowed 40 million CRV tokens from Aave and bet on a price drop through a series of clever short sales. Unfortunately, he was not successful.