The OKX cryptocurrency exchange accused the MANTRA project of manipulating the OM token. Company representatives stated that several linked accounts artificially inflated the price of OM, using the asset as collateral for loans in USDT. According to OKX, this triggered a surge in the asset's price, followed by a sharp decline.$OM
The statement said that the account owners refused to cooperate with the risk management team. In response, the exchange took control of these addresses and, after the price crash, only liquidated part of the positions. It is noted that the losses were covered by the OKX security fund, and the materials were handed over to regulators.
Earlier, MANTRA CEO John Patrick Mallin criticized OKX's statement regarding the migration of OM. He stated that the exchange published dates and procedures that are not in any of the official project management proposals. He claimed that the migration timelines indicated by OKX are technically impossible, and the published data misleads the community.
The MANTRA team urged users to withdraw tokens from OKX and to carry out the migration through official channels. The statement emphasizes that OKX is the only major exchange that has not maintained direct communications with the project since the OM token crash in April.$BNB
