The CEO of MANTRA was live on the Crypto Banter cabal on YouTube. I summarized what he said:
- The team remains in custody of their tokens and has made the wallet addresses available on Twitter (X).
- They will update the community on what is happening as they conduct their assessment.
- The execution of the project is not compromised, and there are investors signaling support to the developers to face the collapse.
- They are currently evaluating possibilities, and the potential burning of tokens was mentioned to assist in price recovery.
- More information will be provided directly on the CEO JP Mullin's page @jp_mullin888.
An excerpt from the X page reads: "We have determined that the $OM market movements were triggered by reckless forced closures initiated by Centralized Exchangers on OM account holders."
The explanation for this is that Centralized Exchangers forced the closure of OM account positions without prior notice during a period of low liquidity, indicating a possible international market manipulation by the CEs.
I checked the tokens at the bottom of the pool, and one thing caught my attention: the collapse of the $OM occurred in sync with the liquidation of positions of $VIDT $TROY and $PROS, which could support MANTRA's argument about the exchanges.
I still feel hurt and have no confidence to endorse the defense of the project; if they had done a Rug Pull, they would be hiding now, but even if they are not guilty, this only negatively impacts cryptocurrencies as a safe source for investments.
I wish recovery to everyone and those who are stuck like me, not to sell now that the damage is done and to follow the developers' pages to know what comes next.
- The team remains in custody of their tokens and has made the wallet addresses available on Twitter (X).
- They will update the community on what is happening as they conduct their assessment.
- The execution of the project is not compromised, and there are investors signaling support to the developers to face the collapse.
- They are currently evaluating possibilities, and the potential burning of tokens was mentioned to assist in price recovery.
- More information will be provided directly on the CEO JP Mullin's page @jp_mullin888.
An excerpt from the X page reads: "We have determined that the $OM market movements were triggered by reckless forced closures initiated by Centralized Exchangers on OM account holders."
The explanation for this is that Centralized Exchangers forced the closure of OM account positions without prior notice during a period of low liquidity, indicating a possible international market manipulation by the CEs.
I checked the tokens at the bottom of the pool, and one thing caught my attention: the collapse of the $OM occurred in sync with the liquidation of positions of $VIDT $TROY and $PROS, which could support MANTRA's argument about the exchanges.
I still feel hurt and have no confidence to endorse the defense of the project; if they had done a Rug Pull, they would be hiding now, but even if they are not guilty, this only negatively impacts cryptocurrencies as a safe source for investments.
I wish recovery to everyone and those who are stuck like me, not to sell now that the damage is done and to follow the developers' pages to know what comes next.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
OM
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