Blockchain analysts have identified large-scale token transfers by major Mantra investors in the days leading up to the sharp collapse of the OM token, raising questions about insider activity and the stability of the project.
Laser Digital, a strategic Mantra investor, reportedly cashed out large portions of Mantra (OM) tokens before the cryptocurrency collapsed on April 13, onchain data suggests.
At least two wallets linked to Laser Digital were among 17 wallets that moved a combined 43.6 million OM tokens — worth about $227 million at the time — to exchanges before the crash, according to blockchain analytics platform Lookonchain, citing Arkham Intelligence data.
The firm has since denied the reports, claiming that the referenced wallets were not associated with Laser Digital.
Source: Lookonchain
Millions in OM moved to Binance, OKX
Laser Digital is a digital asset business backed by Nomura. The firm <a data-ct-non-breakable="null"