MANTRA responded to the crash: “The project remains resilient.”
⏺ The MANTRA team stated that the sharp drop in OM’s price was due to mass liquidations and unrelated to any actions by the project itself.
⏺ However, on-chain analytics data shows that about 25 minutes before the crash began, several large wallets — allegedly linked to the team or early investors — started aggressively selling the token on Binance.
⏺ Additionally, there was a sudden spike in OM’s supply on the blockchain: the total number of tokens doubled. The MANTRA team has yet to comment on this.
⏺ Old controversies about the project have also resurfaced. Back in 2021, Mantra was accused of hiding ties to an online casino and misleading the community with false claims of support from FTX.
⏺ Binance issued a statement saying that risk control measures had been applied to $OM.
⏺ CZ commented that he no longer manages the exchange but believes that neither centralized nor decentralized platforms should filter listings — they should provide access to all tokens.
⏺ The CEO of OKX called the OM collapse a scandal for the entire industry and promised to release a report despite MANTRA’s claims of the project being “resilient.”