Manjulata (@himangshu201) • Hey
#cryptoholic
Publications
- Bapun
- Bapun
- Bapun
- Bapum
- Bapun
- Bapun
- Great
- Good morning lovely phaverians 🦄🌟✨
- Bapun
- Bapun
- Bapun
- That's why there called : 'The GOAT'
- Bapun
- Bapun
- Bapun
- Bapun
- Bapun
- Bapun
- Bapum
- Bapun
- Bapun
- Report: Mango Markets Exploiter Convicted in Multi-Million Dollar Crypto Fraud Case
A U.S. federal jury has convicted Avraham ‘Avi’ Eisenberg on charges of commodities fraud, commodities manipulation, and wire fraud due to his involvement in the $ 116 million exploit of Mango Markets, a Solana-based decentralized exchange (dex) platform.
Jury Convicts Avi Eisenberg in $ 116M Mango Markets Crypto Fraud Case
In this high-profile court case, Eisenberg was accused of devising a plot where he dramatically increased the price of Mango Markets’ native token, MANGO, by more than 1,000% within hours, utilizing a substantial bad debt to withdraw various cryptocurrencies. This manipulative trading strategy could lead to a prison sentence of up to 20 years, with sentencing set for July 29 by New York District Court Judge Arun Subramanian. Bloomberg, along with other media outlets including Axios, reported on the jury’s conviction.
The incident unfolded in October 2022, when Eisenberg reportedly injected $ 5 million in usd coin (USDC) into Mango Markets and initiated a large transaction that significantly boosted the token’s value. According to a report by Certik at the time, the artificial price hike enabled him to borrow extensively against the inflated collateral, extracting considerable funds from the platform and leaving it financially debilitated.
This episode then captured the interest of multiple regulatory agencies, including the U.S. Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission (CFTC), and the Department of Justice (DOJ), all of which pressed charges against Eisenberg. His arrest followed the tumultuous market manipulation, highlighting the legal dangers of exploiting decentralized finance (defi) protocols.
“Eisenberg engaged in a scheme to steal approximately $ 116 million worth of crypto assets from the Mango Markets platform,” the SEC said at the time.
During the trial, reports by the Inner City Press noted Eisenberg’s defense contended that his actions were legally permissible under the then-existing protocols of Mango Markets. “Every trade has a winning side, and every trade has a losing side. It is not illegal to win, to execute a trade that is to your benefit. Mango Market is computer program, a series of smart contracts,” Eisenberg’s lawyer told the court.
Nevertheless, the jury’s decision indicates a significant resistance against deceptive practices in the cryptocurrency market, suggesting a more stringent approach to regulatory enforcement, even within defi environments
- Bapun
- Bapu
- Bapun
- Bapun
- Bapu
- Bapun
- Bapun
- Bapun
- Bapun
- Bapun
- Bapu
- 💎Over Protocol Claim Quiz
➡️Answer : Overview
- Bitcoin Miner Bitdeer Says It Has Launched Its 'First Cryptocurrency Mining Chip'
Bitdeer, a bitcoin miner, recently announced the launch of what it refers to as its “first cryptocurrency mining chip.” Bitdeer claimed that the chip could potentially improve bitcoin mining performance without excessive power consumption.
New Rig to Help Bitcoin Miners Minimize Operational Costs
Bitdeer, a leading bitcoin mining firm, has launched what it describes as its first cryptocurrency mining chip. According to Bitdeer, the mining chip, known as SEAL01, was designed using an advanced 4-nanometer (nm) process. This design enables the chip to reportedly attain an efficiency ratio of 18.1 joules per terahash (J/TH).
In a statement shared via X (formerly known as Twitter), Bitdeer said the chip could potentially enhance bitcoin mining performance without consuming excessive power. These attributes help bitcoin miners minimize their operating costs, leading to improved financial performance. The chip is set to be seamlessly integrated into Bitdeer’s mining rig, the Sealminer A1.
Explaining the reasoning behind the decision to develop the chip, Bitdeer highlighted “the upcoming challenges” for bitcoin miners as one of the reasons why it invested heavily in research and development. The publicly listed bitcoin mining firm added:
The SEAL01 empowers miners to navigate the evolving crypto-mining landscape with a solution that offers efficiency, stability, scalability, and sustainability. We have assembled an international team of professional engineers specializing in chip design, firmware, and hardware engineering.
Bitdeer stated that having this team not only helps the industry achieve new efficiency standards but also ensures that miners can capitalize on opportunities that may arise after the halving event. Meanwhile, the miner also revealed that it is preparing to commence mass production of the Sealminer A1 rigs.
- NFT Market Booms With 35% Sales Increase as Cryptocurrencies Rally
As the value of cryptocurrencies has risen, the non-fungible token (NFT) market has experienced a 35.14% increase in sales compared to the preceding week. This marks the third consecutive week of sales growth in the NFT sector, with NFTs based on Bitcoin leading the charge throughout this period.
NFT Sales Surge Past $ 412 Million in Weekly Market Triumph
Data gathered by Cryptoslam.io this weekend reveals that NFT sales over the last seven days amounted to $ 412,384,130, marking a 35.14% uptick from the sales figures of the previous week. Among the 21 different blockchains analyzed for NFT sales volumes, Bitcoin was at the forefront, amassing $ 154.82 million, a jump of 103.29%.
Ethereum closely followed with $ 153.94 million in sales over the same period, showing a 10.60% increase in ETH-based NFT transactions. The top five blockchains, including Solana, BNB Chain, and Mythos Chain, all reported growth in NFT sales compared to the previous week.
Bitcoin’s Uncategorized Ordinals emerged as the week’s highest-grossing NFT collection, securing $ 39,037,963 in sales, a significant 213.99% increase from the prior week. Following closely was the Nodemonkes collection, which achieved $ 32,648,037 in NFT transactions.
These two leading collections were succeeded by Pandora, Creepz, and Cryptopunks, making up the top five NFT collections by sales volume. Additional noteworthy NFT collections featured NATCATS TAP NFTs and Dmarket NFTs.
The week’s priciest NFT transaction occurred on the Bitcoin blockchain, where an NFT named “Burgie” was purchased for $ 1.44 million just three days ago. A Solana-based NFT titled “Composable Restaking Position” changed hands for $ 1.1 million, while Ethereum’s “Lif3 v3 Position” NFT fetched $ 597,800. Additionally, a BNB Chain “Lockdeal” NFT was acquired for $ 416,504 about a day ago, and a Polygon “Dfyn” NFT was sold for $ 100,000 two days ago
- GM&💫 Good Sunday🫶💝
@lens/phaver
- So many things to push off the table
- 💎Over Protocol Claim Quiz
➡️Answer : Optimistic Rollup
- COLLECT THIS POST
- Great project
- Welcome to Week 2 of the Linea Voyage!
We are excited to announce the second portion of the Linea Voyage: the Social Campaign.
The Social Campaign will run from 5/9 at 9 am EST to 5/14 at 11:59 pm EST. You will have an additional 24 hours to claim points on the completed activity as long as it is performed by the 5/15 deadline.
All eligible addresses will be updated daily, every 24 hours. If you’re seeing “You are NOT eligible” be sure to check back after addresses have been updated.
Have fun!
https://galxe.com/Linea/campaign/GCPRsUEZhR
- 👋 What’s up Lens community! 👋
We’re Bitski, the NFT and digital collectible wallet for everyone and we’re excited to be here!
To celebrate our genesis post, we’re dropping a @lensprotocol 🤝 @bitski.lens Open Edition NFT! Be sure to follow and collect to keep up with us! Here’s how to collect the NFT:
1. Tap “**follow**”
2. Click “**collect**”!
More on Bitski:
You can access your wallet with just an email + password, check the latest NFT alpha, and manage all your wallets in one place.
Download the Bitski iOS wallet here: https://bit.ly/BitskiiOS
Browser extension: https://bit.ly/ExtensionEmail
- GM @layer3.lens
- Morning vibes
- Paşa 🐮
- Trust Wallet to reimburse users after $170,000 security incident
[Trust Wallet to reimburse users after $170,000 security incident](https://cointelegraph.com/news/trust-wallet-to-reimburse-users-after-170-000-security-incident)
Crypto wallet Trust Wallet disclosed a security vulnerability that resulted in nearly $170,000 in losses for some users.
- North Macedonia Is Most Popular Country for Shiba Inu: Reports Google Trends
[Guest Post by TheNewsCrypto: North Macedonia Is Most Popular Country for Shiba Inu: Reports Google Trends | CoinMarketCap](https://coinmarketcap.com/community/articles/64435a401f54331a2616b73f/)
Google Trends reported that searches for the Shiba Inu in North Macedonia have skyrocketed, surpassing those of any other country in the world.
- Keep HODLing On: Crypto Holders Stayed Despite Bank and Crypto Collapses
[Keep HODLing On: Crypto Holders Stayed Despite Bank and Crypto Collapses](https://blockworks.co/news/crypto-holders-stayed-despite-collapses)
Crypto is still largely seen as an asset in a portfolio, but some holders are beginning to use it more for purchasing and spending.
- Increased FUD might affect crypto prices, report says
[Increased FUD might affect crypto prices, report says](https://crypto.news/increased-fud-might-affect-crypto-prices-report-says/)
The rise of fear, uncertainty and doubt (FUD) among crypto investors might soon affect cryptocurrency prices, report suggests