OKX UNCOVERS MASSIVE MANIPULATION WITH MANTRA (OM) MILLIONS IN LOSSES, LAWSUITS AND A WAR BETWEEN EXCHANGES!
🧨 In an explosive public statement, the crypto exchange OKX revealed a complex scheme surrounding the MANTRA (OM) token.
📊 According to OKX, multiple connected accounts have colluded to use large amounts of OM as collateral for loans in USDT, artificially inflating the price.
⚠️ When these accounts refused to cooperate with OKX's risk team, the exchange took control to mitigate risk, which led to a sharp drop in price.
💥 Remarkably, all huge losses were fully covered by OKX's insurance fund worth $724 million!
⚖️ OKX submitted full evidence to regulators and law enforcement agencies, and multiple lawsuits are underway.
🏦 The exchange emphasizes that the crash was primarily from perpetual trades on other platforms, not on theirs.
🔁 This incident recalls the dramatic 90% crash of OM in April 2025, which wiped billions from market value.
🗣️ Then CEO of MANTRA JP Mullin denied team sell-offs and accused centralized exchanges of reckless liquidations.
📉 On-chain data shows that large investors with OM as collateral were liquidated, triggering a cascade.
🔥 Tension escalates with a dispute over the migration of OM tokens.
🗓️ MANTRA claims that OKX announced incorrect dates (December 22-25, 2025), contradicting their management, and urges holders to withdraw OM immediately to avoid issues.
📣 Mullin publicly challenged OKX to confirm the number of user and exchange OM tokens, citing ongoing legal proceedings.
🌐 On X (formerly Twitter), the crypto community is buzzing!
🕵️ Users like WuBlockchain and cryptofundst demand full transparency from OKX "Where is the incident report?"
🛡️ Others, like Gharcrypto, praise OKX for effective risk management: "The crash came from external perpetuals, the origin of OM is still a mystery."
🧑💼 @JP Mullin from MANTRA accuses OKX of "false information" and insists on a public dialogue.
📚 Analyses from sites like CoinGabbar and TradingView highlight that the collusion emphasizes the risks in DeFi, high token concentration, and lack of transparency.
⚔️ OKX accuses MANTRA of ignoring the facts and unprofessional behavior, while MANTRA insists on collaborating with exchanges for clarity.
🌑 This saga reveals the dark side of crypto: high leverage, opacity, and power struggles.
👁️ While legal proceedings continue, regulators are watching.
❓ Will this lead to better rules?
😮💨 The crypto world held its breath!
