Code is Law, until it’s not. This credo of smart Contract messiahs has gotten thrown under the bus many a times, but the recent incident at Mango Markets is worth pondering over.
Mango Markets (a decentralized crypto exchange on Solana) was exploited for $100m+ back in October. The dude who drained the tokens on the platform, Avraham Eisenberg, confessed on Twitter about how everything he did was completely legal & by the books. He blamed it on Mango Markets being poorly designed and leaving the bank vault wide open and went on to negotiate a White Hat bug bounty. His tweets cut the work short for cops.
The U.S. Justice Department arrested Eisenberg on Dec. 27, however, and charged him with one count of commodities fraud and one count of commodities manipulation.
DeFi never fails to entertain.
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