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U.S. Judge Overturns Fraud Convictions in Mango Markets Exploit Case

  • U.S. Judge Arun Subramanian overturns fraud convictions in the Mango Markets exploit case due to lack of proper venue in New York.
  • Eisenberg did not have significant ties to New York as he did not trade, communicate, or interact with Mango Markets from the state.
  • Judge Subramanian acquitted Eisenberg of wire fraud charge, stating that the behavior did not violate existing wire fraud laws, citing the absence of clear rules on Mango Markets about borrowing.
  • The Department of Justice may refile charges in a different venue, highlighting the complex legal landscape in decentralized finance with unresolved jurisdiction and regulatory issues.

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