🚨 What happened to OM (Mantra)?

The token plummeted about 90% in a few hours, causing more than $5 billion in market value to disappear — from approximately $6 to less than $0.50 in a single day.

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⚠️ Major signs of fraud or manipulation

1. Extreme token concentration

Teams controlled about 70–90% of the total supply, allowing for easy price manipulation.

2. Inflated supply without notice

The total supply of OM was suddenly doubled, without voting or transparency, leading to dilution and loss of trust.

3. Manipulated and unfair airdrops

Users were forced to pay (bridges costing about $40) to receive airdrops, but 70% were declared ineligible without explanation, causing resentment and losses.

4. Insider dumping before the crash

Wallets linked to the team sent large volumes of tokens to exchanges just before the drop, suggesting insider selling.

5. Channel closures and censorship

After the crash, the official Telegram was closed, and criticism was blocked or removed — a strong sign of lack of transparency.

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💬 What users and the community say (Reddit)

A user reports paying $40 to migrate tokens and participate in the airdrop, but was excluded without feedback.

Another pointed out: abusive unstake fees — $2,700 charged to withdraw only $1,000 in OM.

Several comments label the project as a "Ponzi disguised as DeFi," with centralized management, manipulation, and a dead community.

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⚖️ Conclusion

There is no formal legal condemnation against the Mantra (OM) project, but the signs point to a soft rug-pull: the project functioned on paper, but operated in a harmful manner to the community.

And even without public evidence of a crime, **the warning signs are legitimate and essential for any investor to stay away.**