The MANTRA team is accused of manipulating the OM token $OM

The exchange denied the statements made by MANTRA and outlined its position:

➥ A group of linked accounts used large volumes of OM as collateral, borrowing USDT and artificially inflating the price of the token.

➥ The risk team at OKX detected anomalies and demanded corrective actions but was refused.

➥ After taking control of the accounts, the price of OM collapsed, while OKX liquidated only a minimal portion of the positions.

➥ All losses were fully covered by the OKX security fund.

➥ Independent analyses indicate that the main crash occurred in perpetual futures on other exchanges.

➥ The origin of large volumes of OM and the concentration of supply among a narrow group have yet to be explained.

➥ Evidence has already been handed over to regulators, and legal proceedings are ongoing.