Was the MANTRA ( $OM ) Crash a Scam? Inside the Controversy That Wiped Out Millions 📉
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In April 2025, MANTRA's OM token plunged over 90% in a single day, wiping out billions in market cap and triggering outrage. Was this a market accident or a calculated scam? Here’s what happened:
🔸The Team's Explanation:
• MANTRA's leadership blamed "reckless forced liquidations" by exchanges during a low-liquidity period.
• They denied insider selling, stating team tokens remained locked.
🔸 Mounting Evidence & Suspicion:
• On-chain data showed large volumes of OM tokens moved to exchanges shortly before the crash, raising doubts about the team's account.
• Critics pointed to OM's tokenomics, which showed highly centralized control, with some suggesting insiders held most of the supply.
• The incident amplified pre-existing concerns about the project's transparency and governance, with some alleging fake votes and delayed airdrops.
🔸The Aftermath:
• MANTRA announced recovery efforts, including a buyback program and a large token burn from the founder's allocation, to rebuild trust.
• While a clear-cut fraud has not been proven, the event highlights the extreme risks of investing in projects with concentrated supply and a history of controversy.
What do you think? Did the team's actions protect the project or protect themselves?