Mango Markets Hacker Rugpulls Mango Inu After Warning Investors ‘would Definitely Lose All Their Money’

The Mango Markets “hacker,” whose name is Avraham Eisenberg, boasted on Twitter about his latest project Mango Inu, a meme coin based on Eisenberg’s infamous Mango Markets exploit. However, Eisenberg made it clear on Twitter a few days after launching the project that anyone investing would “definitely lose all their money.”

Eisenberg later added that he made $100,000 for thirty minutes of work through Mango Inu, but could have made much more. Because of the way he removed liquidity from the liquidity pools, he lost money to bots that preceded him. Eisenberg estimated that he would have made $250,000 if he had used a different method like flashbots.

(Unfortunately the bots did the Liq Pull in front and I forgot to use Flashbots so for half an hour of work I only earned about 100k instead of 250k.)

— Avraham Eisenberg (@avi_eisen) October 23, 2022

Eisenberg offered no consolation to those investing money in the meme coin. Indeed, in response to questions about the legality of his actions, Eisenberg argued that his actions were perfectly legal. Eisenberg had the same argument for using Mango Markets, which he saw as an advanced trading strategy.

The lack of marketing or information about Mango Inu should qualify the rug pull as “open market liquidity transactions only,” according to Eisenberg.

Which part? Mango Inu is definitely not a security (no marketing etc.), no promises were made, only open market liquidity transactions

— Avraham Eisenberg (@avi_eisen) October 23, 2022

A Reddit thread was created to discuss the swagger of Eisenberg’s tweets. The general consensus within the Reddit community was that pulling the carpet was “scumbag behavior” and Eisenberg will likely deserve “a target on the back” for publicly claiming his exploits.

One Twitter user, Mihai, argued that Eisenberg promoted Mango Inu through his Twitter account and that multiple tweets refute his claim that he “did absolutely no promotion.” Eisenberg later denied that any of his claims were fraudulent, stating that Mango Inu was “analogous to selling a box that is clearly marked as an empty box.”

They admit that Mango Inu is a rugpull. Do you claim that your “absolutely no promotion” absolves you of guilt? Do you think all the people who bought it were expecting to “lose all their money,” as your disclaimer says? pic.twitter.com/RQNSDTSRSx

— Mihai² (@mihai673) October 23, 2022

Eisenberg taunted Mihai and responded by sharing a meme laughing at crypto investors who lost money using meme coins.

pic.twitter.com/mjJL4Eo476

— Avraham Eisenberg (@avi_eisen) October 23, 2022

Eisenberg seems to have performed several exploits in recent years. In January, he published a Substack article titled “How Our Team Is Making Millions in Crypto Risk-Free.” The blog claims several NFT bot sniping campaigns and an AAVE loan exploit using the AMPL rebasing token.

The post ended with a call for others to share “Alpha” and ideas for similar campaigns in crypto or elsewhere

“We have the capabilities to execute and the capital to maximize. It doesn’t necessarily have to be in crypto.”

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