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Blockchain analytics platforms Arkham and Lookonchain identified 17 wallets that moved over 43 million OM to exchanges in the days leading up to the April 13, 2025 OM token collapse, raising accusations of coordinated selling.
Large transfers of OM tokens to exchanges like Binance and OKX were observed on-chain prior to the April 13, 2025 decline, prompting community concerns about a potential coordinated sell-off.
OM token experienced a sharp and rapid decline, falling from earlier peak levels to a fraction of its value within minutes, triggering widespread alarm across the Mantra community.
Mantra is a Layer-1 blockchain designed specifically for tokenized real-world assets (RWAs).
Traders and on-chain researchers accused the Mantra team of using OM tokens as loan collateral and triggering a liquidation during the April 13, 2025 crash, while the team denied holding any loans or engaging in a rug pull.

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