$OM Here is a brief and to-the-point summary about Mantra (OM) as of May 25, 2025:

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What happened?

On April 13, the OM token collapsed from $6 to $0.45 in less than an hour. Investor losses amounted to billions of dollars.

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Reasons for the collapse:

Liquidations on centralized exchanges (according to founder John Patrick Mallin).

In reality: 90% of the tokens were controlled by the team, and part was sold shortly before the crash. Suspicions of insider trading.

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Accusations:

Users suspect a "rug pull" (liquidity extraction fraud).

The team disappeared from Telegram, and social media went silent.

The founders previously wanted to sell the project for $5–10 million — without a product.

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What was done afterward?

The team proposed to burn 300 million tokens and spend $109 million to restore the price.

Mallin stated that he was ready to "reset" his tokens and asked the community to decide his fate.

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Conclusion: the project is under serious suspicion. Trust has been undermined, but the team is making attempts to salvage their image. Caution is essential.