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Mantra and its market makers allegedly manipulated OM token liquidity by exploiting reporting gaps in data aggregators like CoinGecko and CoinMarketCap. The scheme involved inflating trading volume and circulating supply to mislead investors. A sudden sell-off later exposed the fabricated liquidity, causing a 90% price crash.
- Mantra and market makers allegedly cycled OM tokens among controlled addresses to inflate trading volume artificially.
- The scheme collapsed when a large holder liquidated, causing OM's price to plummet 90% in 90 minutes.
- Proposed fixes include mandatory market-making disclosures and stricter on-chain validation for token distribution claims.
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