On April 13 $OM plunged 92% in just one hour. The MANTRA team finally broke silence, and here’s what they said:
1. No insider dump – Team & advisor tokens are locked, according to MANTRA.
2. The crash came from the legacy ERC-20 OM token (from 2020) – over 123K wallets hold it, and it’s totally public.
3. Trigger? A chain reaction of forced liquidations during low-liquidity hours (~2am HKT).
It started with a few dips, and then boom — liquidations fed more dips, and the cycle spiraled.
4. MANTRA Chain OM wasn’t the main culprit – 92% of circulating supply is still ERC-20.
They’re promising transparency and updates. Is it enough to restore trust? Time will tell.
