Avraham Eisenberg, the software coder and crypto trader behind Mango Markets’ $100 million exploit, believes “profitable traders” like himself attract a lot of jealousy and hate from other crypto traders.
Eisenberg shared his belief with Laura Shin during an interview on the Unchained Podcast on Friday. He argued that the public is bound to hate and criticize people who execute profitable arbitrages.
Hate for Profitable Traders
Recall that the Mango Markets exploit, which happened two weeks ago, drained the platform of its liquidity, leaving users unable to withdraw their assets. For Eisenberg, the incident was a “highly profitable trading strategy,” but the crypto community thinks otherwise.
Eisenberg and his team executed a self-funded economic attack by manipulating the oracle price of MNGO, the native token of Mango Markets. The trader believes his team’s actions were legal since they used the protocol as designed. Likewise, the affected project has been unable to press
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