Article with AI AnalysisDate: April 16, 2025
Source: Cointelegraph, Mantra, Lookonchain, Arkham, Twitter/X
Introduction
In just 24 hours, Mantra’s OM token lost over 90% of its value dropping from over $6 to less than $0.50, wiping out more than $5 billion in market capitalisation. The crash sent shockwaves across the crypto world, with speculation ranging from insider trading to centralised exchange manipulation.
Mantra, once hailed as a leader in real-world asset tokenisation, now finds itself at the centre of a storm of confusion, denial, and unanswered questions.
What Happened to OM? A Timeline of the Collapse
The crash began on April 13. OM was trading steadily before falling sharply between 18:00 and 20:00 UTC. The token dropped to $0.52 in a matter of hours, sparking rumours of a rug pull, liquidation wave, and manipulation.
Blockchain data revealed that at least 43.6 million OM tokens were deposited into Binance and OKX just prior to the crash. Two wallets were initially mislabelled as belonging to investor Laser Digital which later denied any involvement.
Mantra's CEO John Patrick Mullin blamed "reckless forced closures" by centralised exchanges and promised a full investigation, transparency, and a potential token buyback and burn initiative.
Community Reactions and Ongoing Investigations
Social media exploded with theories. Some accused insiders of dumping, others pointed to shady practices by market makers or coordinated attacks. OKX and Binance both released statements, while Mullin continued to respond directly to the community on X.
Further investigations revealed dormant wallets suddenly becoming active, and transactions possibly linked to major partners like Shorooq and Laser though both parties have denied wrongdoing.
Mantra continues to deny any team-led token sales. A post-mortem is promised, but so far, answers remain vague.
AI-Powered Sentiment Analysis
Our AI analysis of this article revealed:
sentiment_score: 0.93
Financial Sentiment: 2.23
Polarity Score: -0.081
Subjectivity Score: 0.371
These scores reflect high emotional intensity and financial relevance, with a slightly negative polarity understandable given the scale of financial loss. The subjectivity score indicates a mix of factual reporting and emotional reactions, typical of major market events where causes are unclear and trust is shaken.
The article is emotionally charged but grounded in sourced facts. Readers will sense urgency and chaos but also efforts at clarity and accountability.
Read More
Read the full article on: https://cointelegraph.com/news/mantra-om-token-collapsed-24-hours
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Disclaimer
This article was generated using AI and reviewed for accuracy. The information presented is for educational purposes only and should not be construed as financial advice. Always consult with a professional before making investment decisions.