DeFiTransparency
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Following nearly two hours of silence, the Mantra team has issued a brief statement addressing the recent market turbulence that saw the $OM token plummet by over 88%, currently trading at $0.6964. In a short message posted on social media, the team stated:
Mantra community โ we want to assure you that MANTRA is fundamentally strong. Todayโs activity was triggered by reckless liquidations, not anything to do with the project. One thing we want to be clear on: this was not our team. We are looking into it and will share more detailsโฆ
Despite this initial response, the statement has left many questions unanswered. The team has yet to provide a technical breakdown or any on-chain analysis to clarify the incident. While they deny any involvement and suggest that the situation was driven by aggressive liquidations rather than an exploit or malicious activity, the lack of immediate communication has drawn concern from the community.
As of now, further details are awaited to better understand what triggered the dramatic sell-off and subsequent cascade. The community remains in anticipation of a more comprehensive explanation.
#MantraCrisis
#OMTokenCrash
#CryptoLiquidation
#DeFiTransparency
$OM
Following nearly two hours of silence, the Mantra team has issued a brief statement addressing the recent market turbulence that saw the $OM token plummet by over 88%, currently trading at $0.6964. In a short message posted on social media, the team stated:
Mantra community โ we want to assure you that MANTRA is fundamentally strong. Todayโs activity was triggered by reckless liquidations, not anything to do with the project. One thing we want to be clear on: this was not our team. We are looking into it and will share more detailsโฆ
Despite this initial response, the statement has left many questions unanswered. The team has yet to provide a technical breakdown or any on-chain analysis to clarify the incident. While they deny any involvement and suggest that the situation was driven by aggressive liquidations rather than an exploit or malicious activity, the lack of immediate communication has drawn concern from the community.
As of now, further details are awaited to better understand what triggered the dramatic sell-off and subsequent cascade. The community remains in anticipation of a more comprehensive explanation.
#MantraCrisis
#OMTokenCrash
#CryptoLiquidation
#DeFiTransparency
$OM
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