$OM Om Coin will be Delisted later this week.
My friend at Binance told me the secret news!!!
The $5 Billion Mantra Scandal: Unmasking the OM Rugpull and John Mullin's Alleged Deceptions
The $5 Billion Mantra Scandal: Unmasking the OM Rugpull and John Mullin's Alleged Deceptions
Chronicalstar
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The cryptocurrency world has been shaken by a colossal scandal involving Mantra ($OM) and its co-founder, John Patrick Mullin. On April 13, 2025, a detailed exposé on X alleged that Mullin orchestrated a $5 billion rugpull, resulting in a devastating 90% price crash of OM in just one hour. This collapse, reminiscent of the infamous $LUNA crash of 2022, has left investors reeling and ignited widespread outrage. Let’s dive into the shocking details of this alleged scam, the mechanisms behind it, and its implications for the broader crypto ecosystem.
The Fall of $OM: A $5.5 Billion Disaster
On April 13, 2025, news broke that John Mullin, the driving force behind Mantra, would face jail time the following day for allegedly stealing over $5 billion through a rugpull of the OM token. The token’s price plummeted from $6 to $0.60 in a single hour, erasing $5.5 billion in market value. The scale of this collapse drew immediate comparisons to the $LUNA crash of 2022, which similarly devastated investors overnight.
The allegations point to a meticulously planned theft, with Mullin and the Mantra team accused of manipulating the token’s ecosystem to their advantage while retail investors suffered the consequences. The claims include deceptive practices such as airdrop bait-and-switches, insider dumps, and fake governance votes, all contributing to the token’s dramatic downfall.
