14.04.2025 16:51
Claims have emerged that large investors sold off their holdings before the sharp decline in the price of the Mantra (OM) token. While there are allegations that some major investors transferred significant amounts of OM tokens to exchanges prior to the crash, investors have provided statements regarding the matter.
```html
Blockchain analysts revealed that large investors made significant token transfers in the days just before the sharp decline of the Mantra (OM) cryptocurrency. This situation raised concerns about insider information being leaked and the stability of the project. However, the mentioned investor firms issued statements against the selling allegations despite the evidence provided by platforms like Arkham Intelligence.
Stunning Selling Allegations: What’s Behind the OM Token?
According to analyses in the crypto world, it was detected that significant amounts of token transfers were made by some large investors shortly before the sharp decline in the value of the OM token. This situation was interpreted as insider trading or concerns about the stability of the project. It was particularly claimed that a digital asset firm named Laser Digital conducted large-scale sales before the sharp price drop in OM. The firm clearly denied the allegations, stating that these wallets did not belong to them.
According to information from industry sources, at least two wallets allegedly connected to Laser Digital were among 17 different wallets that transferred a total of 43.6 million OM tokens to exchanges before the decline. The value of these transfers reached hundreds of millions of dollars at that time. Nevertheless, Laser Digital claimed in a statement on April 14 that it had no connection to the OM price crash and that the selling allegations circulating on social media did not reflect the truth.
The same sources reminded that Laser Digital made a strategic investment in Mantra in May 2024, while sharing data that the firm had transferred millions of OM tokens to OKX through various transactions since April 11. One of the striking points was that these transactions were completed a few days before the OM crash that occurred on April 13 at 10:00 AM (UTC 7:00), taking place around 1:00 PM Turkish time on April 11. Another wallet reportedly sent millions of OM to Binance starting from April 3.
On the other hand, Shorooq Partners also became one of the institutions associated with the OM token crash. According to analyses, a wallet linked to one of the founding partners of Shorooq Partners received 2 million OM tokens on April 13 at 2:52 PM Turkish time (UTC 11:52). The firm emphasized that it is not only a token investor but also an equity investor, highlighting its full long-term belief in the project.
Major exchanges Binance and OKX also saw high-volume transactions in the OM token before the crash. Officials indicated that the decline did not originate from a single exchange, and liquidations occurring across different platforms triggered collective sales. While Mantra has not yet made a comprehensive statement on the matter, some industry commentators suggest that there may be a connection between tokenomic changes and investor movements.
In a statement on April 14, OKX noted that the Mantra team had made significant changes in token distribution since October 2024 and that suspicious activity had been detected across various exchanges. Binance, in its announcement dated April 14, interpreted this situation as "inter-exchange liquidations." Laser Digital and Shorooq Partners, which are among the investors of the total $109 million Mantra Ecosystem Fund (MEF), continue to deny all allegations.
```