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OM update. . . .

Is this a red flag?

It depends. While they denied malicious intent, there are still valid concerns raised by the community:

Red Flag: A wallet linked to the team transferred 3.9M OM to OKX right before the crash. Even if not sold, this created panic.

Red Flag: The team reportedly controls up to 90% of the token supply, which gives them massive influence on price action.

Red Flag: Lack of proactive communication before the crash led to broken trust.

But:

Green Flag: The team is still active, didn’t vanish, and is addressing the issue publicly.

Green Flag: No on-chain evidenc of a rug pull or mass sell-off from team wallets.