An American judge has overturned fraud and conviction of market manipulation by Avraham Eisenberg, the crypto dealer, accused of draining $ 110 million from the now-defunct decentralized financing protocol manga markets.

On Friday, US district judge Arun Subramanian gave up that prosecutors could not prove that Eisenberg made false representations to the platform.

He also moved to free Eisenberg for fees for wire fraud. The investor manipulated the price of Mango’s native token MNGO with massive trades by more than 1,000% in 20 minutes before getting the protocol to allow him to borrow and withdraw $ 110 million in different cryptocurrencies, supported by the inflated security.

Eisenberg’s defense claimed that the platform operating through smart contracts allowed anyone to act freely and that he simply exploited a vulnerability. The judge agreed to indicate that Mango’s permission -free structure meant that “there was” insufficient proof of forgery “from prosecutors regarding Eisenberg’s representation to Mango markets.

Eisenberg was arrested in December 2022, and while this case was collapsing, he is still atone at the moment a four-year verdict that was handed down after he pleaded guilty to the possession of sexual abuse of children.

“From the beginning we said this case was deadly deficient,” said his lawyer Brian Klein of Waymaker LLP. “We are very pleased with AVI that the judge admitted our proposal and rejected the case.”