StevieDennis
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MANTRA ($OM): The Crypto Scheme Nobody’s Calling Out — So I Will
Time to break this down, scam by scam.
Toward the end of 2023, $OM popped up out of nowhere — right as the market was shaky. Some mystery buyer suddenly tried to grab 30% of the token supply plus the tech for a cool $10 million. A reputable founder walked away from the deal — but where most saw red flags, a few opportunists saw dollar signs.
Cue: Sharooq Ventures and Laser Digital (yep, Nomura’s side hustle). By December 2023, they sealed the deal.
What came next? The oldest trick in the crypto scam playbook:
Load up on a huge chunk of tokens
Artificially inflate trading volume
Hype it like it’s the next Ethereum killer
Watch retail investors FOMO in
By early 2024, $OM was somehow mooning during a bear market — but savvy analysts noticed something fishy. A small group of wallets was clearly orchestrating everything.
Fast forward to late 2024:
Investors started demanding their unlocked tokens. Crickets.
The MANTRA team kept delaying vesting like it was some cursed IDO. And guess what? They controlled most of the token supply. No one dared speak up.
Then, plot twist...
February 2025: $OM jumps to $8.
Early whales exit stage left with bags full. So, what was actually behind the project?
No legitimate tech
No real partnerships
Almost zero on-chain usage
Yet the market cap exploded from $5B to $7.16B in one day. Totally believable, right?
Oh, and here’s the kicker — 10 wallets hold 30% of all tokens, with balances ranging from $150M to $1.2B each. For context: on Ethereum, 99% of holders own less than $1K worth.
This isn’t some DeFi revolution. It’s a straight-up cash grab wrapped in DAO buzzwords.
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Want this styled for a blog post or Twitter/X thread?
---
MANTRA ($OM): The Crypto Scheme Nobody’s Calling Out — So I Will
Time to break this down, scam by scam.
Toward the end of 2023, $OM popped up out of nowhere — right as the market was shaky. Some mystery buyer suddenly tried to grab 30% of the token supply plus the tech for a cool $10 million. A reputable founder walked away from the deal — but where most saw red flags, a few opportunists saw dollar signs.
Cue: Sharooq Ventures and Laser Digital (yep, Nomura’s side hustle). By December 2023, they sealed the deal.
What came next? The oldest trick in the crypto scam playbook:
Load up on a huge chunk of tokens
Artificially inflate trading volume
Hype it like it’s the next Ethereum killer
Watch retail investors FOMO in
By early 2024, $OM was somehow mooning during a bear market — but savvy analysts noticed something fishy. A small group of wallets was clearly orchestrating everything.
Fast forward to late 2024:
Investors started demanding their unlocked tokens. Crickets.
The MANTRA team kept delaying vesting like it was some cursed IDO. And guess what? They controlled most of the token supply. No one dared speak up.
Then, plot twist...
February 2025: $OM jumps to $8.
Early whales exit stage left with bags full. So, what was actually behind the project?
No legitimate tech
No real partnerships
Almost zero on-chain usage
Yet the market cap exploded from $5B to $7.16B in one day. Totally believable, right?
Oh, and here’s the kicker — 10 wallets hold 30% of all tokens, with balances ranging from $150M to $1.2B each. For context: on Ethereum, 99% of holders own less than $1K worth.
This isn’t some DeFi revolution. It’s a straight-up cash grab wrapped in DAO buzzwords.
---
Want this styled for a blog post or Twitter/X thread?
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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