Token Troubles! Investors Claim Innocence as OM Goes Bust!

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Hold onto your hats, folks! Blockchain detectives have unearthed some shocking transfers of OM tokens right before the OM token crash. A few *very* large investors might have known something we didn’t. 🤔 Looks like someone saw the iceberg and decided to jump off the Titanic!

One of the biggest culprits? Laser Digital! Apparently, they pulled out a massive chunk of OM tokens just before the plunge on April 13, according to the blockchain’s sleuthing tech. Yes, you heard that right. A whole bunch of tokens went *poof*—and so did their worth. Coincidence? Eh, let’s just say the timing was… suspicious. 🙄

Two wallets linked to Laser Digital—shocking, I know—decided to move a grand total of 43.6 million OM tokens (around $227 million at the time) to exchanges before the crash, as reported by the mysterious but trustworthy Lookonchain. 💸🧐 But hey, Laser Digital says, “Not us!” So, no biggie. Just a *teeny* misunderstanding. 🙃

Wait, What? OM Tokens Flood Binance and OKX!

Now, before you start pointing fingers, Laser Digital—backed by Nomura—has been involved with Mantra since May 2024. They even invested in the *famous* Mantra Ecosystem Fund (MEF). But here’s the kicker: They reportedly moved 6.5 million OM tokens to OKX—yes, that’s $41.6 million—for the *magic* of seven transactions. Lucky seven, right?

And hold on to your coffee—another wallet linked to Laser Digital moved another 2.2 million OM (around $13 million, in case you missed the math) to Binance. These happened as early as April 3. Coincidence? You decide. 📉

But wait! Laser Digital didn’t stop there. They totally deny any connection to this whole OM disaster. According to them, these wallets *definitely* don’t belong to them. “Not us!” they scream. “Our hands are as clean as a baby’s bottom.” 👶💩

Laser’s own words: “Laser has no involvement in the recent price collapse of $OM!” they proudly declared on X. “Those social media claims are *totally* false and misleading!” So, let’s all just trust them, right? 😏

We tried to get a comment from Arkham Intelligence—those wonderful people behind the data. But, surprise surprise, they’re ghosting us. 👻

Shady Shenanigans from Other Investors

Laser Digital wasn’t the only player in this financial circus. Enter Shane Shin, a partner at Shorooq Partners. Just hours before the crash, guess who got 2 million OM tokens? Yup, you guessed it. That same wallet! Lookonchain says the tokens came from a dormant wallet that received a hefty chunk of OM tokens in April 2024. Talk about timing, huh? ⏰💥

But don’t worry! Shorooq’s got it all under control. A rep told CryptoMoon that neither Shorooq nor its partners had sold any OM tokens. Nope. Not during the crash, not before. “We’re equity investors, guys, not just *token* investors,” they clarified, like a parent scolding their child for forgetting their manners. 🙄

Meanwhile, Mantra didn’t respond to our request for comments. (Guess they were too busy cleaning up this mess.) 😬

Binance Blames “Cross-Exchange Liquidations”

Now, the drama continues with OKX and Binance. Both exchanges were flooded with OM activity before and during the crash. Binance chimed in and suggested “cross-exchange liquidations” were to blame. Star Xu, OKX’s founder, called it a “big scandal to the whole crypto industry.” I mean, what *else* could go wrong in crypto? 🤷‍♂️

Mantra’s CEO, John Mullin, says it was all one exchange’s fault, but hey, Binance is like, “Nope, it’s an *exchange-wide* issue!” Cross-exchange liquidations, my friends. Because why blame just one? 😜

OKX, ever the optimists, are now saying that Mantra’s tokenomics had gone through “major changes” since October 2024. Suspicious, right? Oh, and they’ve flagged “suspicious activity.” But hey, we all love a good mystery, don’t we? 🕵️‍♂️

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2025-04-14 14:56