{"id":22210,"date":"2025-04-15T16:01:41","date_gmt":"2025-04-15T16:01:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22210"},"modified":"2025-04-15T16:01:41","modified_gmt":"2025-04-15T16:01:41","slug":"whispers-of-insider-selling-as-mantra-dao-relocates-nearly-27-million-in-om-to-binance","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22210","title":{"rendered":"Whispers Of Insider Selling As Mantra DAO Relocates Nearly $27 Million In OM To Binance"},"content":{"rendered":"
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The cryptocurrency project Mantra is coming under increasing suspicion after its OM token shed 90% of its value within a single day. The value dropped<\/a> from $6.27 to only $0.72, erasing more than $5 billion in market value. What transpired next only served to worsen the situation.<\/p>\n

Based on blockchain data, Mantra DAO\u2014the project\u2019s behind-the-scenes organization\u2014sent $26.95 million of OM tokens to a Binance wallet on Monday, April 14. This is just after the price\u2019s massive dump, which triggered red flags among observers.<\/p>\n

Detractors cite a disturbing fact: the Mantra team owns around 90% of all OM tokens. The high concentration of ownership and timing of the exchange transfers have fueled accusations of potential insider selling.<\/a><\/p>\n

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With 90% already dumped in $OM<\/a>, it seems like the $OM<\/a> team is about to sell more.<\/p>\n

2 hours ago, the @MANTRA_Chain<\/a> DAO staked wallet sent 38M $OM<\/a> ($26.96M) to #Binance<\/a> Cold Wallet.https:\/\/t.co\/nSttgmuqzg<\/a> pic.twitter.com\/Vsc2q346fC<\/a><\/p>\n

\u2014 Onchain Lens (@OnchainLens) April 14, 2025<\/a><\/p>\n<\/blockquote>\n

Mantra CEO Denies Token Dumping Accusations<\/strong><\/h2>\n

Mantra chief executive JP Mullin has rebutted such allegations<\/a>. He said the team and investors didn\u2019t dump their holdings during the crash.<\/p>\n

Instead, Mullin attributed the price decline to \u201cforced liquidations\u201d instigated by cryptocurrency exchanges. Such liquidations occur when exchanges sell traders\u2019 holdings automatically after they are unable to cover margin calls.<\/p>\n

But his account is not to everyone\u2019s liking. Various independent analysts have monitored suspicious token transfers that point to a different narrative.<\/p>\n

\"\"<\/p>\n

On-Chain Detective Work Reveals Suspicious Transfers<\/strong><\/h2>\n

Crypto analyst Max Brown found that Mantra transferred nearly 4 million OM tokens to cryptocurrency exchange OKX shortly before prices began to decline.<\/p>\n

The problem for investigators is that once tokens are moved to centralized exchanges like Binance or OKX, they become much more challenging to trace. This is essentially a blind spot where the tokens can be disposed of while leaving behind no clear trail on public blockchains.<\/p>\n

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MANTRA CHAIN $OM<\/a> CRASHED 90% IN AN HOUR AND $5.5 BILLION GOT WIPED OUT.<\/p>\n

HERE\u2019S HOW AND WHY IT COULD HAVE POSSIBLY HAPPENED \"\ud83e\uddf5\"<\/p>\n

IT ALL STARTED YESTERDAY WHEN A POSSIBLE $OM<\/a> TEAM WALLET DEPOSITED 3.9 MILLION OM TOKENS ON OKX.<\/p>\n

IT WAS WELL KNOWN IN THE CRYPTO SPACE THAT OM TEAM\u2026 pic.twitter.com\/9ZQNw4Yrla<\/a><\/p>\n

\u2014 Max Brown (@MaxBrownBTC) April 13, 2025<\/a><\/p>\n<\/blockquote>\n

While analysts cannot prove it for a fact that insiders sold off tokens, the gradient of movements into exchanges just ahead of the price tumble certainly gives room for serious doubt.<\/p>\n

Exchanges Provide Varying Account Of The Crash<\/strong><\/p>\n

Major cryptocurrency exchanges launched investigations as to what triggered the spectacular fall<\/a> of the OM token.<\/p>\n

Binance, the largest crypto exchange in terms of trading volume, corroborates Mullin\u2019s account. In early findings, they indicate cross-exchange liquidations most likely caused the crash, which would support the CEO\u2019s explanation.<\/p>\n

<\/p>\n

OKX paints a different picture. The exchange cited \u201cmajor changes\u201d in OM\u2019s tokenomics as a possible cause. They also noted that multiple blockchain addresses had sent large quantities of tokens to exchanges during the time of the crash.<\/p>\n

The contradicting accounts by various players in the market have left investors uncertain about what actually transpired. With $5 billion of market value lost and no certainty, confidence in the project has been severely undermined.<\/p>\n

Featured image from Blueberry Markets, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency project Mantra is coming under increasing suspicion after its OM token shed 90% of its value within a single day. The value dropped from $6.27 to only $0.72, erasing more than $5 billion in market value. What transpired next only served to worsen the situation. Based on blockchain data, Mantra DAO\u2014the project\u2019s behind-the-scenes […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22210","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22210"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22210\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}