The Cryptocurrency Project Mantra is increasingly suspected after its OM -token has replaced 90% of its value within a single day. The value dropped from $ 6.27 to only $ 0.72 and deleted a market value of more than 5 billion US dollars. What turned out next only deteriorated the situation.
Based on blockchain data, Mantra Dao-The Organization are behind the scenes of the project $ 26.95 million from OM-TOKEN for a bony letter bag on Monday, April 14th. This is shortly after the massive dump of the Price, which triggered red flags under observers.
Critics cite a disturbing fact: the mantra team has around 90% of all OM -token. The high concentration of ownership and the time of the exchange transmissions has fueled the accusations of the potential insider sale.
Already unloaded with 90% $ OMIt seems to be $ OM The team is about to sell more.
2 hours ago the @Mantra_chain Dao Staked Wallet Send sent 38m $ OM ($ 26.96 m) to #Binance Cold wallet.https: //t.co/nsttgmuqzg pic.twitter.com/vSC2Q346FC
– Onchain lens (@onchainlens) April 14, 2025
Mantra -CEO denies token -dumping accusations
The managing director of Mantra, JP Mullin, has refuted such allegations. He said the team and the investors did not throw their investments during the crash.
Instead, Mullin attributed the decline in price to “forced liquidations”, which were founded by cryptocurrency exchanges. Such liquidations occur when stock exchanges automatically sell the participations from dealers after they cannot cover margin calls.
But his account is not for everyone. Various independent analysts have monitored suspicious token transfers who indicate another story.
OM price has sustained a steep drop in the last week. Source: CoinMarketCap
Detective work for chains reveals suspicious transfers
The crypto analyst Max Brown found that the mantra had transferred almost 4 million OM tokens to the okx cryptocurrency exchange shortly before the prices started.
The problem for the investigators is that after moving token to a centralized exchange such as Binance or OKX, pursuing much more difficult to follow. This is essentially a blind place where the tokens can be disposed of, while they do not leave a clear way in public blockchains.
Mantra chain $ OM If 90% crashed in an hour and 5.5 billion US dollars were wiped out.
So and why could it have happened
It all started yesterday, as possible $ OM Team Wallet deposited 3.9 million OM -TOKEN on OKX.
It was known in the crypto room, the OM team … pic.twitter.com/9zqnw4yrla
– Max Brown (@maxbrowntc) April 13, 2025
While analysts cannot prove to the fact that insiders were sold by token, the gradient of movements in the exchange gives serious doubts shortly before the price fall.
Excavations offer a different account of the crash
The large cryptocurrency exchanges cited examinations of what triggered the spectacular fall of the OM token.
Binance, the largest crypto exchange in relation to the trading volume, confirms the mullin account. In early knowledge, they indicate that crossing liquidations most likely caused the crash, which would support the explanation of the CEO.
Okx paints another picture. The exchange cited “big changes” in OMS TOKENOMICS as a possible cause. They also found that several blockchain addresses had sent large amounts of tokens for exchange during the time of the crash.
Investors do not have the contradictions on the market, what actually happened. With a market value of 5 billion US dollars and without certainty, trust in the project was greatly undermined.
Selected picture of Blueberry Markets, Diagram from Tradingview
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