Today John Mulllin, CEO of Mantra in Crypto, reported about insider sales by investors, including laser digital, before the 90% accident by OM TOKEN – despite Onchain data, which indicates in other ways. Mulllin also identified an exchange of which the mantra team believes that they may have played a job within the collapse of the token.
Mantra CEO refuses Insider OM TOKEN Dump, says Arkham “incorrectly described” Arrivals
John Mulllin, CEO von Mantra, reports reports that in the times before the sharp collapse of the OM token in large-scale token transfers close by large mantra investors, while he spoke of CoinTelegraph in an AMA on April 14th.
“The Mantra Association, our most vital investors, our consultants – no person sold, and we’ll categorically deny and likewise demonstrable proof of proof of proof within the event that that is the case,” said Mullin within the AMA.
Previous reports indicate that Laser Digital, a strategic mantra investor, triggered large parts of Mantra -token (OM) tea before the cryptocurrency collapsed on April 13.
At least two laser digitally connected tolases included 17 wallets that, along with 43.6 million OM -OTOKEN -at this time, were price around 227 million US dollars -before the crash, the Blockchain Analytics platform Lookonchain reported on April 13, citing Arkham Intelligence data.
Source: Lookonchain
Laser Digital is a digital asset business supported by Nomura. The company announced a strategic investment in Mantra in May 2024.
According to Arkham data, a laser digital pocket had led to 6.5 million OM tokens in seven transactions (at the moment $ 41.6 million) on OKX.
The last recorded transaction from the wallet took place on April 11 at 10:00 p.m. UTC, days before the mantra crash, which took place on April 13, based on Coingecko.
Another wallet sent around 2.2 million OM (price 13 million US dollars) in numerous transfers from April 3.
The data also showed that Laser can have decreased its OM components digitally in February. According to reports, the bridles related to the corporate received a big a part of their OM from the Krypto trade company GSR in 2023.
Mantra (OM) drainage from certainly one of the laser digitally connected items. Source: Arkham
Laser Digital then denied reports through which participation within the OM -Volatility was claimed and claimed that the referred wallets weren’t a part of it.
Mantra says that an exchange “specifically” can have caused an OM collapse
The team behind the actual blockchain mantra of Real-World tokenized Asset Blockchain says that the sudden 90% of the house shoots are violent through the exchange without warning, with an unnamed exchange could also be guilty.
On April 13, the Mantra (OM) price dropped from $ 6.30 to lower than $ 0.50 and quickly shot over 90% of the market capitalization of $ 6 billion.
Source: John Mullin
“We have found that the OM market movements were triggered by ruthless forced closures that were initiated by centralized stock exchanges to OM account holders,” wrote John Mullin, co-founder of Mantra, in a press release on April 13 about X.
“The timing and the depth of the crash suggest that a really sudden closure of the account positions was initiated without adequate warning or announcement,” he added.
Mullin told an X user that they consider that an exchange was “specifically” guilty, but said that they’re still “checking out the main points”. He said to others that the centralized exchange in query was not binance.
Mantra token collapses by 90%, but returns a certain value
The price of the mantra token collapsed over 90% on April 13, but, based on the Mantra team and the co-founder JP Mullin, gained a certain value.
The price of Mantra (OM) fell to a low of about 0.38 US dollars before it went back over $ 1, and is currently at this level.
Mantra -token Prize and overview. Source: Coingecko
According to the mantra team, OMS was resulting from “ruthless liquidations” that the mantra team examined.
“One thing through which we would really like to make it clear: this was not our team. We check it and can share more details about what happened as soon as possible,” the team wrote in a post on April 13.
