Mantra CEO John Mullin rejected claims of insider sales by major investors, including Laser Digital, prior to the OM token’s 90% crash, asserting that no sales occurred among key stakeholders. However, onchain data revealed that wallets linked to Laser Digital transferred 43.6 million OM tokens, valued at about $227 million, to exchanges before the decline. Mullin also indicated that reckless forced liquidations by a centralized exchange may have contributed to the token's sudden drop, which peaked at a low of $0.38 before recovering to around $1. The Mantra team is investigating these transactions further and emphasizes the crashes did not result from their actions. Meanwhile, Laser Digital disputed its involvement in the reported volatility, stating that the wallets in question were mislabeled. Mantra plans to release more information as they continue to assess the situation.

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