#om
Mantra CEO John Mullin denied reports suggesting large-scale token transfers by major Mantra investors in the days leading up to the sharp collapse of the OM token, while speaking in an AMA hosted by Cointelegraph on April 14.
“The Mantra association, our key investors, our advisers — no one has sold, and we are going to categorically deny and also provide verifiable proof onchain proof that this is the case,” Mullin stated in the AMA.
Previous reports suggested that Laser Digital, a strategic Mantra investor, cashed out large portions of Mantra (OM) tokens before the cryptocurrency collapsed on April 13.
Laser Digital is a digital asset business backed by Nomura. The firm announced a strategic investment in Mantra in May 2024.
At least two wallets linked to Laser Digital were among 17 wallets that moved a combined 43.6 million OM tokens — worth about $227 million at the time — to exchanges before the crash, the blockchain analytics platform Lookonchain reported on April 13, citing Arkham Intelligence data.
Laser Digital says not involved in millions in OM moved to Binance, OKX
According to Arkham data, a Laser Digital-linked wallet, “0x84EE7,” sent 6.5 million OM tokens to an unlabelled Arkham wallet address, “0xB37DB,” on April 11.
The “0xB37DB” address subsequently dumped the tokens on the OKX exchange in several transactions, Arkham data shows.
Arkham did not immediately respond to Cointelegraph’s request to comment on Laser Digital’s wallets’ tags.
Cryptocurrencies, Venture Capital, Investments, Cryptocurrency Exchange, Binance, OKX, Companies, Mantra
Laser Digital-linked wallet and the 6.5 million OM transfer to 0xB37DB. Source: Arkham
Laser Digital subsequently denied Lookonchain reports alleging its involvement in the OM crash, claiming that the referenced wallets did not belong to it.
Venture Capital, Binance, OKX, Companies, Mantra
The tokens came from a previously dormant wallet that received 2.75 million OM in April 2024, Lookonchain reported.
#OM
