The world of crypto currencies is constantly changing and growing. Recently, there was a groundbreaking case where someone was convicted for indirectly hacking a DeFi protocol for the first time.

The Mango Markets hack occurred on October 11, 2022, resulting in a staggering loss of $114 million. Avraham Eisenberg was found guilty of this crime in a recent court ruling. Despite the complexity of DeFi and crypto structures, Avraham was definitively convicted.

The hack on the Solana-based decentralized exchange Mango Markets was the result of a trading error, leading to the draining of the liquidity pool. The attacker faced charges of commodity manipulation and phone fraud. What made this case unique was that it was not a traditional hacking situation, but rather the exploitation of a technical glitch.

This ruling sends a clear message to those who try to exploit system errors for personal gain, particularly those who manipulate prices by draining liquidity pools. This sets a precedent for individuals attempting to profit from algorithm errors and market vulnerabilities.