Laser Digital Denies Involvement in OM Collapse Incident, States Core OM Investments Remain in Lock-up Status

Reality Asset Tokenization Project MANTRA’s Native Token OM Crashes

The native token OM of the reality asset tokenization project MANTRA experienced a crash early Monday morning, plummeting from over $6 to $0.37 in just four hours, a decline of up to 90%. The reason for the sharp drop in OM’s price has not yet been determined. The MANTRA team has clarified that this is not due to a team sell-off. According to MANTRA co-founder John Mullin, an unnamed exchange executed a large-scale forced liquidation operation, and the team is still clarifying why this occurred.

Related report: “MANTRA Ecosystem Token OM Plummets 90% in Four Hours, Market Value Drops by Billions of Dollars”

Wallet Addresses Transferring OM Prior to the Drop

On the other hand, according to information shared by the on-chain data analysis platform Lookonchain, 17 wallet addresses transferred a total of 43.6 million OM (valued at approximately $227 million) to exchanges before the drop, accounting for about 4.5% of the total supply. Two of these addresses are reportedly linked to MANTRA’s strategic investor Laser Digital, a digital asset investment company under Nomura Holdings.

This news led to speculation that the sell-off by MANTRA investors was the primary cause of the significant decline in OM. However, Laser Digital clarified on the social media platform X that they have no connection to the crash of $OM. They stated that the claims circulating on social media are misleading and inaccurate; Laser has not deposited any OM tokens into OKX, and the wallet addresses mentioned do not belong to Laser.

Laser added that their core investment in $OM remains locked and that they “have no intention of exerting sell pressure on the token or undermining the project’s stability.”