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Mantra's OM Token Makes a Comeback After Alleged Rug Pull Accusations

After a dramatic 90% crash over the weekend, Mantra’s OM token has staged a sharp rebound—surging nearly 200% to $1.10 from a low of $0.37 on April 14. The sudden recovery came amid swirling accusations of a rug pull scam. Co-founder JP Mullin addressed the concerns head-on, presenting proof of the team’s holdings and reaffirming the project's activity.

The crash, which wiped out billions in market value, was reportedly triggered by forced liquidations from exchanges. Critics, however, allege the team may have used OM tokens as loan collateral, leading to a margin call. Analysts caution that this rebound could be a classic bull trap, and the token might face another potential 90% drop. As always—DYOR (Do Your Own Research) before making any investment moves.