BlockBeats News, December 13th, OKX posted on social media, stating that they have found conclusive evidence indicating that multiple associated and colluding accounts used a large amount of OM tokens as collateral, borrowed a huge amount of USDT, and artificially inflated the OM price.The OKX Risk Team promptly identified this abnormal activity, contacted the relevant account holders, and requested them to correct it, but they refused to cooperate. To control the risk, the platform took control measures on these associated accounts. Shortly thereafter, the OM price plummeted. OKX only liquidated a very small portion of the OM collateral, and the significant losses caused by the drastic price drop have been fully borne by the OKX Security Fund.Multiple third-party analyses have indicated that this price crash was mainly driven by perpetual contract trading activities on non-OKX trading platforms. The OKX Security Fund has operated entirely according to its design mechanism. As of now, the other party has not explained the source of the huge OM token holdings, nor why these groups hold and control such a large proportion of the token's supply.Currently, OKX has submitted complete evidence and documents to regulatory and law enforcement agencies, and multiple legal actions and judicial procedures are underway. At the same time, OKX condemns the MANTRA team for not only failing to respond to these severe and suspicious activities but also continuously ignoring facts and publicly accusing OKX.

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