Again a scam?
Did coin $OM follow in the footsteps of $LUNA ?
The crash, which became one of the sharpest one-day declines in cryptocurrency, has led to accusations of market manipulation. Critics claim that the team or an insider conducted over-the-counter (OTC) sales of tokens and removed the MANTRA group on Telegram, severing ties with investors. Social media has erupted with allegations of fraud, comparing the situation to the collapse of Terra Luna in 2022.
MANTRA co-founder John Patrick Mallin denies the accusations and stated that a major investor, OM, was forcibly liquidated.
Investors are calling for legal action, with some labeling the incident as "fraud." As investigations continue, the incident highlights some of the volatility risks associated with certain decentralized finance (DeFi) projects, especially those that connect traditional assets. MANTRA's response—or lack thereof—may impact its future and broader trust in tokenization ecosystems.
Did coin $OM follow in the footsteps of $LUNA ?
The crash, which became one of the sharpest one-day declines in cryptocurrency, has led to accusations of market manipulation. Critics claim that the team or an insider conducted over-the-counter (OTC) sales of tokens and removed the MANTRA group on Telegram, severing ties with investors. Social media has erupted with allegations of fraud, comparing the situation to the collapse of Terra Luna in 2022.
MANTRA co-founder John Patrick Mallin denies the accusations and stated that a major investor, OM, was forcibly liquidated.
Investors are calling for legal action, with some labeling the incident as "fraud." As investigations continue, the incident highlights some of the volatility risks associated with certain decentralized finance (DeFi) projects, especially those that connect traditional assets. MANTRA's response—or lack thereof—may impact its future and broader trust in tokenization ecosystems.