What Occurred to Mantra That Led to OM Token’s 90% Value Crash?…

Binance acknowledged these tokenomic modifications and had carried out threat controls for OM since October 2024, together with lowered leverage ranges and consumer warnings.

The crypto neighborhood reacted suspiciously, with some alleging insider involvement or a possible rug pull. Analysts pointed to large-scale token actions to exchanges earlier than the crash as proof of attainable coordinated sell-offs. ​

A pockets labelled as @LaserDigital_ deposited over $41M value of $OM into OKX simply 2 days in the past.$OM value has dumped 90% in the previous few hours❗️

This pockets acquired the vast majority of its $OM holdings from GSR over a 12 months in the past!

Handle:
0xB37DBDec19737d52cDC8fD969B92bAA9e044f26A pic.twitter.com/PRoRFGNLRH

— Amir Ormu (@AmirOrmu) April 13, 2025

Mantra has denied these allegations, asserting that crew and investor tokens stay locked and topic to vesting schedules.

OM Value Exhibiting Useless Cat Bounce

As of now, OM is buying and selling at roughly $zero.73, reflecting an almost 100% bounce from the April 13 low however nonetheless 87% under its pre-crash worth.

Newest on-chain proof reveals additional draw back strain, with proofs of Mantra DAO staking pockets transferring round $38 million in OM tokens to a Binance pockets, elevating additional selloff dangers.

🚨 WARNING TO $OM HOLDERS

TEAM IS ABOUT TO SELL MORE!

THE MANTRA DAO STAKE WALLET JUST TRANSFERRED 38M $OM ($26.96M) TO A BINANCE COLD WALLET. pic.twitter.com/0rXjhENit1

— CryptoGoos (@crypto_goos) April 14, 2025

“Its a Useless cat bounce on $OM,” famous market analyst @red_polkadot, including: 

“Insiders need your cash, don’t be silly right here. This coin has confirmed to be a rug. Mantra is one other embarrassment to the cryptoverse.”

Mantra plans to carry a neighborhood join session on X to supply additional updates and tackle issues. The crew has additionally indicated that they’re compiling a listing of exchanges concerned within the pressured liquidations and can launch extra particulars sooner or later.