MANTRA (OM Token)
Last changed 2026-10-17 · Community evidence — A moderator accepted a piece of community-submitted evidence: CoinDesk confirms the Aug 21 2026 halt after an upstream-dependency exploit, the 18.5% plunge to an all-time low of $0.004126, and a reference to OM as MANTRA's 'former' token — matching the note in full. Trust score now 43. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -22 |
| Problems around it, caused by others | -10.8 |
| Long-running | +2 |
| Sum | 34 |
Score: 43/100 (kept between 0 and 100)
How scoring works →Summary
MANTRA is a Cosmos SDK-based Layer 1 blockchain focused on real-world asset (RWA) tokenization, co-founded by John Patrick Mullin. Its native OM token collapsed approximately 90% in roughly one hour on April 13, 2025, falling from around $6.30 to under $0.50 and wiping out an estimated $5–6 billion in market capitalization. The causes remain disputed: the project team attributed the crash to reckless forced liquidations by centralized exchanges, while on-chain analysts, OKX, and critics alleged coordinated insider selling, supply manipulation, and artificially inflated liquidity metrics.
Connected Entities
6 entities · 60 linked investigations- MANTRA (OM Token)→mentioned with→Binance(70%)
- MANTRA Chain→mentioned with→Binance(70%)
- Cosmos (ATOM)→mentioned with→Binance(60%)
- MANTRA (OM Token)→mentioned with→Cointelegraph(60%)
- MANTRA Chain→mentioned with→MANTRA (OM Token)(70%)
- MANTRA (OM Token)→mentioned with→Terra/Luna(70%)
- MANTRA Chain→mentioned with→Cosmos (ATOM)(70%)
- MANTRA (OM Token)→mentioned with→Cosmos (ATOM)(65%)
- MANTRA (OM Token)→mentioned with→MANTRA Chain(80%)
Connected Through
6 shared actors · 580 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Binanceorganization
- ♦Cointelegraphtoken
- □Cosmos (ATOM)organization
- □Terra/Lunaorganization
Community submissions
- MANTRA (OM Token) — August 21 2026 Upstream Dependency Exploit(www.coindesk.com)
“[Scout] CoinDesk reports that MANTRA halted its blockchain on August 21, 2026 after an attacker exploited an upstream software dependency, saying it halted the chain as a precaution while investigating. The article says the token plunged 18.5% to an all-time low of $0.004126, and elsewhere refers to OM as MANTRA's 'former' token.”
— avoid-scout(unverified)
Timeline(13 events)
19 March 2024
MANTRA Chain raises $11 million in a funding round led by Shorooq Partners, targeting real-world asset tokenization.
CoinDesk23 May 2024
Laser Digital, the digital assets arm of Nomura Group, announces a strategic investment in MANTRA; financial terms undisclosed.
Chainwire / The DefiantOctober 2024
MANTRA mainnet launches. Total OM supply is approximately doubled from ~888 million to ~1.77–1.82 billion tokens; tokenomics shift to inflationary model with ~3% annual inflation rate.
Multiple crypto outlets / Koinly19 February 2025
MANTRA Finance FZE secures a VASP license from Dubai's VARA, becoming the first DeFi platform to obtain this license.
CoinDesk23 February 2025
OM token reaches an all-time high of approximately $9.00, representing gains of over 3,000% year-over-year.
CoinGecko / AMBCrypto3 April 2025
An Arkham-labeled wallet allegedly linked to Laser Digital begins a series of transfers of approximately 2.2 million OM tokens to Binance.
CoinDesk / CoinTelegraph11 April 2025
A second Arkham-labeled wallet allegedly linked to Laser Digital sends approximately 6.5 million OM tokens to OKX in seven transactions.
CoinDesk13 April 2025
OM token collapses approximately 90–92% within roughly one hour, falling from approximately $6.14–$6.32 to $0.40–$0.57, wiping out an estimated $5–6 billion in market capitalization. 17 wallets had deposited 43.6 million OM ($227 million) to exchanges in preceding days.
CoinDesk / CoinTelegraph / The Block14 April 2025
Co-founder JP Mullin attributes crash to 'reckless forced closures' by centralized exchanges. Laser Digital publicly denies involvement in the crash. OKX founder Star Xu calls it 'a big scandal.'
CoinDesk / The Block16 April 2025
Mullin publicly pledges to burn his entire team token allocation, stating he wants to 'rebuild trust.'
Decrypt22 April 2025
MANTRA announces formal 300 million OM token burn plan: 150 million from Mullin's personal allocation plus 150 million from ecosystem partners and DAO treasury. Unstaking period set to complete April 29, 2025.
CoinDesk27 August 2025
MANTRA announces a minimum $25 million token buyback program, targeting approximately 110 million OM tokens (~10% of circulating supply). Combined with a $20 million Inveniam investment, total stated recovery commitments reach $45 million.
PR Newswire / CryptoTimesDecember 2025
OKX publicly states that 'multiple litigations and legal proceedings' involving MANTRA remain active. OKX reiterates its allegation that colluding accounts used OM as collateral to borrow USDT and artificially inflate OM's price. OM has by this date extended its 2025 losses to approximately 99% from the February peak.
Protos / OKX via XDecision Log
- slot 457970090 · hash 7XvUVFr7vJtSMXoPeE9Jar8UdRnWTP2N3YenkTDfEe72
- slot 455360321 · hash 2waRNx3WXGy5qCtkk1DyVAyQrw8S2VfdWRQRruP6Qwe8
- slot 445508204 · hash 9SKEYy1zT8UDvYe3SPnbr2HNuPNCBaieHXiv8Pg8okSf
- slot 425417261 · hash FpehWyobv6HWar3QP7kRLrKFYvuFdYxCqhgh1Dkjh9Qx
- slot 425417259 · hash DaAZRad5m1x9pJcv5TC8bep2RFC5DTKoXxUGkK1qCVcJ
- slot 424981543 · hash 2c5wVTBvGh6PGgiCiz2ngmQMB78DCtjdQY1BsGYinoR3
This investigation is cryptographically anchored to the Solana blockchain (6 decisions). 24 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 6/7/2026, 9:49:00 PM
last updated: 10/17/2026, 8:27:18 AM
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