A judge dropped the fraud and market manipulation charges against Avraham Eisenberg.
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He took $110 million from Mango Markets, a crypto website not the actual fruit mango I enjoy eating sometimes. They say he “manipulated” the price of a token, then used that price to borrow and withdraw money. The judge said it wasn’t really lying or fraud because the site’s rules let anyone do what he did. So this dude pretty much found a grey area in the game and well, made dreams a reality out of it.
If a website lets you do something, and you do it, is it okay?
Well if you ask me I'd say it depends. It depends on whether you want to be moral or go "dark mode" at life. You can exploit a vulnerability in a system, but don't forget it shows what kind of a person you are. Personally I don't think I can leave with myself knowing I had to mess lots of people's investments just to create wealth. That's just me, maybe you may see this differently, but I would state something Jordan Peterson, a renowned clinical psychologist and author once said:
"No one really escapes consequences in this life, it will catch up with you regardless". Yes he made the millions, but how will people see him from here on. Could he ever go into any business partnership deal with anyone, knowing he has it in him to exploit?
Anyways, the judge said there was not enough proof Eisenberg lied, since the rules (smart contracts) allowed him to trade. They say crypto is “permissionless”, which just means there are no guards at the door.
But no guards doesn’t mean you should steal the whole house.
Its best there are no rules online, just don't forget there's someone at the other end of the screen with a sincere heart trying to create wealth with their hard earned money.
You can say Eisenberg is smart, and he used the tools given, just remember the money he took didn't come out of thin air while you're at it.
