Mango Market exploiter curated a shitcoin to generate money and then warned his followers about it!
Things in the crypto market happen a lot differently than they used to before and the Mango Market scam incident is a perfect example of that! The Mango Market exploiter had stolen U$117 million in digital assets from the decentralized finance exchange Mango Market and later said that they will return the funds, only if the token holders let the exploiter keep US$70 million without the possibility of criminal prosecution. The hacker who stole millions of dollars wanted to walk away with the majority percentage of the loot and asked everyone to treat the incident as a white hat hacking incident! Crypto experts agreed unanimously that crypto scams are getting bigger and weirder and that something is seriously wrong with the industry.
Eisenberg, the mischievous Mango Market exploiter did not let his streak fail. In a recent Twitter thread, he announced his creation and a subsequent rug pull of Mango Inu, a shitcoin that he developed to explicitly used to target crypto buying bots created by people looking for a quick moonshot. As per what Eisenberg denoted, the targeted bots bought up around US$25,000 worth of shitcoins within half an hour. He also stated that there were no promotions made on behalf of Mango Inu to ensure the operation remains strictly legal, in fact, he even advised his followers to not buy the shitcoins as they might lose more money.
If promotions had been conducted for Mango Inu, he could have been accused of fraud, selling unlicensed securities, and others. Since this was not the case, the rug pulls of the quickly-made shitcoin are essentially a voluntary purchase of a useless cryptocurrency by bots masked as crypto traders. Even though a total of US$250k was reportedly harvested by Eisenberg, he admitted to having forgotten to use flashbots, resulting in some of the tokens being sold. Ultimately, Eisenberg claims to have raked in about US$100k for half an hour of work.