Mantra Responds to Furious OM Community, Spurned Holders React With Legal Threats

Mantra responds to furious OM community with an official message.

They claim their team had nothing to do with the price crash

OM holders retaliate with legal threats if the situation is not addressed appropriately.

The new week began with a brutal price crash for the Mantra project as its native token OM price fell by 90% and analysts attribute this to insider trading, scam activity, and unfaithful team. In turn, Mantra responds with an official message to the community to which the spurned holders react with legal threats and action against the unjust OM price crash

Mantra Responds to Furious OM Community

The range and disappointment coming from OM holders who expected to see real progress in the real-world asset industry (RWA) is palpable. Mantra began as a layer 1 blockchain that promised to put security first and boost RWA to improve the future of finance. Instead, OM holders find themselves experiencing a huge loss due to what could possibly be insider trading and market manipulation

A few seasoned analysts pulled out of OM before the crash by spotting many red flags in the project’s activities. This includes lack of transparency, tokenomics and market cap not matching up, and delays in a promised OM community airdrop. Despite the backlash, Mantra went on to share an official response to the 90% price crash

As we can see from the post above, the Mantra team tells the Mantra community that Mantra is fundamentally strong and that the recent price crash was triggered by reckless liquidations that have nothing to do with the project. The message also makes it clear that the team had nothing to do with the price crash and that they will soon share more details on what happened

Mantra’s Feeble Attempt Incites Legal Actions

This is very suspicious to the community as we can see from the post above, they have traced many wallets to the team and their strategic partners. These wallets are the ones that moved a large supply of OM to exchanges and began to sell. This triggered further panic selling which led to the mass price drop. Soon after the drop one user accused OM of being LUNA 2.0 which led to the cancellation of the official Telegram channel

In response to the message from team, the community responds with rage, bitterness, and exasperation at Matra’s attempt to save face. Seasoned analysts see this reaction as proof that Mantra has used its community and are looking to now escalate the issue and make it a legal matter

For instance, this user and OM investor who put in $3.5 million is now furious and devastated to see his investment drop to $200,000. He marks how the project with its promising connections gave a claim of credibility when in reality it was illusions. He states his disappointment with the project and expects them to take responsibility and address the situation appropriately. If not, he will proceed to take legal action against Mantra and OM.