On April 14, Mantra CEO John Mullin refuted claims of insider sales by major investors, including Laser Digital, prior to the OM token's dramatic 90% drop. Data from blockchain analytics platform Lookonchain highlighted that wallets linked to Laser Digital transferred significant amounts of OM tokens to exchanges just days before the crash. Notably, at least two wallets moved approximately 43.6 million OM tokens, worth around $227 million at the time. Mullin asserted that Mantra's key stakeholders did not sell tokens and promised verifiable on-chain proof of this.Prior to the collapse, Mantra's market cap plummeted due to centralized exchanges allegedly conducting forced liquidations without notice. Mullin hinted at one exchange being particularly responsible but did not disclose its identity. After the sharp decline, the price of OM hit a low of $0.38 but recovered to over $1 following reassurances from the Mantra team, which continues to investigate the causes behind the reckless liquidations.

Source 🔗