Pagbagsak ng MANTRA: Mga Inaakusahang Insider Trading at Epekto sa Merkado

This week’s MANTRA Meltdown has left the crypto market and regulators seeking answers. The loss of 90% of value from the OM token stunned the market during Sunday trading. Now, amid a flurry of social media accusations, highlighted by chain evidence, a bigger picture is beginning to form. One that seems to indicate more than just bad luck. Here’s what you need to know

Ano ang MANTRA (OM)? Ang Blockchain na Nakatuon sa RWA na Ipinaliwanag

MANTRA (OM ) entered the market as a  Layer 1 blockchain to support the Real World Assets (RWA) ecosystem. The tokenization of real-world assets refers to bringing non-chain items onto the blockchain. In some instances, this could mean making the ownership of an item or asset a token.

The RWA space continues to expand, and MANTRA was touted as an enterprise-level solution to the market. However, it now looks like there may have been alternative motives as evidence continues to stack up against the platform’s developers and community members.

Bakit Bumagsak ng 90% Overnight ang Token na MANTRA (OM)?

The dust has begun to settle on the MANTRA token crash that saw the OM token drop from $6.30 down to $0.38 in less than 24 hours. The abruptness and size of these losses have left social media sleuths and crypto analysts speculating on foul play. Considering that the developers and their partners held the majority of the tokens, these allegations are warranted.

Pangunahing Sanhi sa Pagbagsak ng Token na MANTRA (OM)

Several reasons have led to the MANTRA meltdown that are known so far. For one, the overuse of trading bots has made instances like this more common. These automated protocols execute trades at predetermined values. As such, they can be triggered by sudden market movements. Sadly, these bots can easily trigger a wave of sell-offs.

Ang Mga High-Risk na Pautang ang Nagpasiklab sa Pagbagsak ng Token na OM

According to exchange records, the MANTRA token holders had made some questionable maneuvers in the days leading up to the crash. It was noted that the group had taken out several high-risk loans using the OM token as collateral. This situation meant that as OM tokens began to sell, their lenders called the loans in to meet the new collateral requirements, furthering the OM death spiral.

Mga Inaakusahang Insider Trading na Nakapalibot sa Pagbagsak ng Token na MANTRA

Many believe that the company and its partners were involved in insider trading. However, the CEO, John Mullin, denied reports suggesting that anything nefarious was behind the sudden losses.

This denial has been met with skepticism as blockchain analysts pointed out that the two main culprits in the crash, Laser Digital and Shorooq, were investors in the MANTRA Ecosystem Fund (MEF). Notably, the fund secured $109 million since it was announced in April.

Pinagmulan – X

Laser Digital

Laser Digital, backed by Nomura, has been a strategic partner of MANTRA since Mayo 2024. The group provided support to the project and held a significant portion of OM tokens before the crash. What makes the situation precarious is that right before the crash, it’s alleged that Laser Digital moved $227M in OM tokens to the CEXs Binance and OKX.

In total, 43.6 million OM tokens were moved from wallets that are allegedly controlled by Laser Digital. Additional evidence put forth by another independent source, ZachXBT, shows a sharp uptick in OM-collateralized loan requests by connected wallets before the crash.

Shorooq Partners

Shorooq Partners is another MANTRA investor that allegedly made some questionable maneuvers prior to the losses. According to LookonChain data, a wallet that was tied to the company’s founding partners, Shane Shin, received a transfer equaling 2M OM tokens on April 13, only hours before the crash. In response to these allegations, Shorooq Partners stated that these were wallet-to-wallet transfers within their community.

Pinaplano ba ng MANTRA ang Pagbagsak? Paggalaw ng Suplay ng Token at Implasyon

There are others who say this scam has been in the works for some time. They noted that back in Oktubre 2024, MANTRA doubled the total supply of tokens. This maneuver raised the token total from 888,888,888 to 1,777,777,777 OM tokens. Additionally, they eliminated the limited supply structure and introduced an 8% inflationary approach.

Ang Pagbagsak ba ng MANTRA ay isang Rug Pull?

When MANTRA developers were confronted with rug pull allegations, they quickly stated that none of the developers, members of the MANTRA association, primary key investors, or advisers sold their tokens. The developers claimed that they were caught off guard, like everyone else, and that they have no intention of abandoning the project or the community.

Bakit ang Timing ng Pagbagsak ng MANTRA ay Nagdudulot ng Alarma

If the MANTRA team knew nothing about the impending crash, the timing of certain moves is surely questionable. For example, the crash occurred during the low liquidity hours on Sunday. MANTRA claims that this timing indicates larger market manipulation at play, while others state that this timing just furthers their case against the developers.

Ang Ebidensya mula sa Blockchain ay Nagpapatunay ng Insider Activity sa Pagbagsak ng MANTRA

Arkham data states with confidence that on April 11th,  a wallet linked directly to Laser Digital  with the beginning tag “0x84EE7,” sent 6.5M OM  to the wallet address “0xB37DB.” From there, the tokens were sent to OKX, where they were liquidated. This data disproves the theory that it was a buyer sell-off that spurred the crash. Instead, it supports an insider trading scheme that involved Laser Digital and others.

Kasalanan ba ng mga Crypto Exchange sa Pagbagsak ng MANTRA (OM)?

Others believe that the exchanges are partly at fault for his crash. However, both Binance and OKX have fought these claims. OKX even went as far as to share that they flagged OM token loan activity across multiple CEXs since Oktubre 2024.

In response, MANTRA developers stated that the exchange settings made their situation worse and led to further selling when the market reacted sharply. They claim that flagging their token has already raised concerns and was an unnecessary step that led to the problem rather than preventing one.

Binance

Binance defended its efforts by sharing that it initiated risk control measures on OM token trading early on. Their research also found that the developers were engaged in questionable activity, like extended cross-chain liquidations. They also noted the larger amount of leveraged positions that OM token holders had on Binance and other CEXs.

Ipinabulaan ng CEO at mga Kasosyo ng MANTRA ang Paglahok sa Pagbagsak ng Token

Despite the growing amount of evidence that continues to be brought to the public, MANTRA’s CEO, John Mullin, has stood his ground in regard to his team’s innocence. They were quickly followed by Laser Digital denying the allegations. Notably, both parties denied having any connection to the wallets that Arkham Intelligence’s data provided.

Ano ang Susunod para sa MANTRA Pagkatapos ng $5B na Pagbagsak ng Token?

Now that the smoke has settled, the MANTRA project may be on its way out the door. A project rarely regains consumer confidence after such a sudden and crushing blow to the community. Despite the odds, MANTRA developers have floated some recovery ideas. The concepts include token buybacks and burns, which are commonly used to help control token value.

Bakit Inihahambing ang Pagbagsak ng MANTRA sa LUNA

The crypto community has been quick to point out some similarities between the sudden and unexpected MANTRA meltdown and the LUNA token crash that happened in 2022. The unexplained token transfers before the crash and the sudden recovery that turned out to be a bull trap are factors that the community has pointed out recently.

Ang Pagbangon ba ng OM ay isang Bull Trap o Simula ng Pagbabalik?

There was some sparkle of light at the start of the day today as OM began with a strong rally that had some believing that it was going to recover from its losses. However, the momentum behind this maneuver seems to be fizzing out fast.

Mga Epekto ng Pagbagsak ng MANTRA: Pagkawala ng Market Cap at Liquidations

The flurry of allegations and growing evidence against MANTRA and its associates has made this scenario a central point for both traders and regulators. In total, a $5B OM market cap has been lost. Additionally, liquidated futures positions reached $75.9M, adding to the woes.

Bakit Maaaring Wala Na nang Handa ang Kumpiyansa ng mga Mamumuhunan sa MANTRA

It’s hard to envision any scenario in which MANTRA can climb out of this hole without first explaining some of the questionable actions that occurred leading to the losses. It’s more likely that the developers will exit the project in the coming days as regulators begin to ask more questions and as the screams from frustrated traders reach a fevered pitch.

For these reasons and many more, you can expect to see the MANTRA Meltdown further investigated in the coming weeks.

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