OM Token Crash Fuels Mantra-OKX Dispute Over Potential Price Manipulation
The post OM Token Crash Fuels Mantra-OKX Dispute Over Potential Price Manipulation appeared on BitcoinEthereumNews.com.
The Mantra OM token experienced a dramatic crash of over 99% in April 2025 due to allegations of price manipulation involving borrowed USDT and collateralized OM tokens. Crypto exchange OKX froze accounts and liquidated positions, sparking a blame game with the Mantra team that has left investors in limbo amid upcoming token migration. OKX accuses Mantra team of inflating OM price using significant USDT loans secured by OM collateral. Account freezes by OKX’s risk team triggered widespread sell-offs across platforms after initial price dips. OM’s value plummeted 80% post-freeze, reversing prior 600% gains, with current trading at $0.07 amid bearish futures sentiment per CoinGlass data. Discover the Mantra OM token crash details: OKX vs. team blame game after 99% drop. Explore migration impacts and investor concerns in this 2025 crypto update. Stay informed—read now for key insights. What Caused the Mantra OM Token Crash in 2025? The Mantra OM token crash in 2025 stemmed from alleged price manipulation where the project team reportedly borrowed large amounts of USDT using OM as collateral to artificially boost the token’s value. Following a slight price decline, OKX’s risk management team froze the accounts and liquidated holdings, which cascaded into aggressive selling across multiple exchanges, wiping out over 99% of OM’s value since April. This event reversed substantial earlier gains and intensified scrutiny on the project’s governance. Since Mantra’s OM token crashed by over 99% in April, the project team and crypto exchange OKX have been embroiled in an ongoing blame game at the expense of investors. In a recent statement, the exchange claimed that the team borrowed ‘significant amounts of USDT’ and used OM as collateral to ‘inflate’ the price of the token. Following the price manipulation, the exchange’s risk team was forced to freeze the accounts and liquidate a portion of Mantra…
