PANews reported on April 14 that Layer 1Blockchain project MANTRA issued a formal response to its "OM token crash" in an official blog: "It has been determined that the volatility of the OM market was triggered by reckless forced liquidation initiated by centralized exchanges on OM account holders. The timing and depth of the crash indicate that account positions were closed very suddenly without adequate warning or notification. This happened during the low liquidity hours in the early hours of Asian time, which at least indicates a degree of negligence on the part of centralized exchanges, or perhaps deliberate market manipulation. Centralized exchange partners play an important role in providing liquidity for projects like ours. We work closely with them, however, they still have great discretion. When this discretion is exercised without proper internal and external supervision, market dislocations may occur, as has recently occurred, to the detriment of the interests of projects and investors. It should be clear that this market dislocation was not caused by the team, the MANTRA Chain Association, its core advisors, or MANTRA's investors selling tokens. The tokens remain locked and subject to the published vesting period. The token economics of OM remain unchanged, as we stated in our latest token report last week. Our token wallet addresses are online and visible."
Earlier news, MANTRA's OM token price suddenly plummeted 90% in the early morning, and its team blamed it on "reckless liquidation"
