Blockchain analysts have flagged significant token transfers by major Mantra investors, notably Laser Digital, prior to the OM token's drastic decline of 90%. Data from Arkham Intelligence reveals that 17 wallets, including those linked to Laser Digital, moved approximately 43.6 million OM tokens, valued at around $227 million, to exchanges before the crash. Specifically, one wallet transferred about 6.5 million OM tokens to OKX, while another sent 2.2 million tokens to Binance. Investigations suggest that Laser may have begun selling off its holdings as early as February 2024. In a response to accusations linking them to the price crash, Laser Digital denied any involvement. Additionally, Shane Shin, a founding partner of Shorooq Partners, reportedly sold 2 million OM tokens just before the crash. Both Shorooq and Mantra have stated they had not sold their OM tokens during this period. The exchanges affected responded by attributing the crash to cross-exchange liquidations.

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