$OM Om Coin will be delisted this week.
My friend at Binance gave me some confidential information!!!
Patrick Mullin has been arrested!!!!!!!!!😨
Everyone should avoid investing in Om Coin! Please, this is not a joke! Your life could be ruined. Invest your money in Bitcoin. Not in fake projects!
The $5 Billion Mantra Scandal: Exposing the OM Rugpull and John Mullin's Alleged Fraud
The $5 Billion Mantra Scandal: Exposing the OM Rugpull and John Mullin's Alleged Fraud
Chronicalstar
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The crypto world was rocked by a massive scandal involving Mantra ($OM) and its co-founder John Patrick Mullin. On April 13, 2025, a detailed report published on X alleged that Mullin orchestrated a $5 billion rugpull, causing OM's price to plummet by 90% in just one hour. This collapse, reminiscent of the infamous $LUNA crash in 2022, sent shockwaves through the crypto community and sparked widespread outrage. Let’s take a closer look at the shocking details of this alleged scam, the mechanisms behind it, and its broader implications for the crypto ecosystem.
OM's Downfall: A $5.5 Billion Disaster
On April 13, 2025, news emerged that John Mullin, the driving force behind Mantra, would be sentenced to prison the following day for allegedly defrauding the OM token and stealing over $5 billion. The token’s price plummeted from $6 to $0.60 within an hour, erasing a market value of $5.5 billion. The scale of this collapse was immediately compared to the 2022 $LUNA collapse, 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 for their own gain, while retail investors were left to bear the consequences. Among the allegations are deceptive practices such as an airdrop scam, insider information leaks, and fake governance votes, all of which contributed to the token's dramatic decline.