OKX CEO Star called the OM token collapse a major scandal, shaking the entire crypto industry. He emphasized that all on-chain unlocking and recharge data are publicly accessible, and the collateral and liquidation activity across major exchanges can be fully investigated.

In response to growing concerns, OKX has committed to preparing and publishing all relevant reports. The statement signals a push for greater transparency and accountability in the aftermath of the OM token’s dramatic price crash.

MANTRA’s OM token plummeted 90%, wiping out around $5 billion in market value amid insider sell-off allegations. The crash saw OM’s price drop to $0.7748, down 87.66% in 24 hours, with a market cap of $751 million. Trading volume spiked 2979% to $2.25 billion. Co-founder JP Mullin denied abandonment rumors, assuring, “We are here and not going anywhere,” while sharing the team’s wallet. MANTRA attributed the collapse to “reckless liquidations,” distancing the team from direct involvement.