EyeOnChain
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Bearish
MANTRA Chain Breaks Silence: “Today’s Crash Wasn’t Us”
After a day of chaos that saw $66.97M in $OM liquidations and heavy sell-offs linked to tagged wallets, #mantra Chain has finally responded.
In an official statement, the team assured the community that MANTRA remains fundamentally strong, and clarified that the sharp price drop was due to reckless liquidations, not insider action or a flaw within the project.
“One thing we want to be clear on: this was not our team. We are actively investigating the situation and will share more details as soon as possible.”
The statement comes after on-chain data showed 17 wallets depositing 43.6M #OM (about 4.5% of the circulating supply) into exchanges — two of which are linked to Laser Digital, a strategic investor in MANTRA.
The community now waits for more answers, but one thing’s certain: someone triggered the avalanche — and it wasn’t the devs.
After a day of chaos that saw $66.97M in $OM liquidations and heavy sell-offs linked to tagged wallets, #mantra Chain has finally responded.
In an official statement, the team assured the community that MANTRA remains fundamentally strong, and clarified that the sharp price drop was due to reckless liquidations, not insider action or a flaw within the project.
“One thing we want to be clear on: this was not our team. We are actively investigating the situation and will share more details as soon as possible.”
The statement comes after on-chain data showed 17 wallets depositing 43.6M #OM (about 4.5% of the circulating supply) into exchanges — two of which are linked to Laser Digital, a strategic investor in MANTRA.
The community now waits for more answers, but one thing’s certain: someone triggered the avalanche — and it wasn’t the devs.
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