Yesterday, the crypto space watched in disbelief as $OM plunged from $6.32 to $0.57 — a 90% drop, wiping out over $5.5B in market cap.
This wasn’t a market correction.
This was an orchestrated dump.
Here’s what really went down 👇
🔍 Timeline of a Meltdown:
• Just 48 hours before the crash, a wallet labeled LaserDigital_ sent $41M worth of $OM to OKX
• That wallet? Funded by GSR, a known market maker
• Even worse — LaserDigital_ is a listed investor in Mantra's own MEF fund
Insiders didn't just sell.
They positioned, dumped, and disappeared.
🎯 Tokenomics Games
Mantra promised a generous airdrop.
But terms were changed multiple times:
• 20% unlocked → 0.3% daily → then 10% with the rest locked till 2027
• Meanwhile, users were asked to stake to vote on the vesting
• Suspicious wallets flooded the vote, likely fake
• Insiders delayed distribution, while retail remained trapped
The DAO wasn’t decentralized.
It was rigged.
💣 The Final Blow
Just before the crash:
• A team wallet sent 3.9M $OM to OKX
• Panic selling & liquidations followed
• No warning, no protection — just a clinical exit
🌉 Bridge, Hype, Exit
Mantra told users to bridge to their new chain.
Many did — expecting ecosystem growth.
But insiders?
They’d already bridged. Already sold OTC.
Already planned the exit.
🧠 Fake Governance, Real Damage
• Anonymous wallets faked decentralization
• Governance was controlled behind the scenes
• Exchanges facilitated it
• Billions extracted
And in the end?
CEO @jp_mullin888 just said:
“My decision. My responsibility. I’m building a $100B chain.”
No accountability. No apology. No restitution.
⚠️ What Now?
• $OM’s collapse may force delistings on major CEXs
• Liquidity is gone
• Trust is shattered
• This wasn’t a bad decision — it was a blueprint for a rug
📣 How You Can Help:
• Tag @cz_binance & @binance to demand a delisting
• Report @MANTRA_Chain & @jp_mullin888
• Share this post — help the next person avoid becoming exit liquidity
• Demand real decentralization. Real transparency. Real leadership.
💡 Final Thought:
If you don’t know who controls the treasury,
you are the exit liquidity.
Don’t trust words.
Trust wallet flows, contracts, and history.
The next rug will look different.
But the playbook is the same.