OM token drops 90% after massive insider dump on centralized exchanges.
Mantra community blindsided; transparency takes a nosedive.
Allegations of insider trading trigger backlash and a desperate scramble for answers.
Mantra's price has cratered following sell offs and allegations are flying.
Mantra’s OM crypto token crashes harder than your aunt’s retirement plan, with
centralized exchanges and suspected insider dumpers in the spotlight.
From Zero to OM: The Spectacular Self-Destruction of a Token
Mantra’s OM token didn’t just take a hit—it faceplanted into the crypto
pavement, losing over 90% of its value in less time than it takes to microwave
popcorn. What looked like just another quiet Monday in the crypto markets
exploded into full-blown chaos when OM token holders watched their portfolios
evaporate before their very eyes.
In what appears to be the latest “how not to Web3” case study, the
crash has sparked allegations of insider trading, botched tokenomics, and an
epic failure in transparency. And if you’re wondering whether centralized
exchanges helped or hurt the situation, well—strap in.
The Sell-Off Heard 'Round the Blockchain
The OM token began its steep decline late on April 13, when its price plummeted from $6.1
to as low as $0.43 within a single day. While the exact cause remains
unconfirmed, the crash has sparked widespread speculation about potential
insider activity and large-scale token sell-offs.
According to blockchain analytics platform Spot On Chain, several OM
token holders transferred approximately 14.27 million tokens to the crypto
exchange OKX three days before the crash. These accounts had previously
acquired around 84.15 million OM in March for a reported total of $564.7
million.
Naturally, this triggered the crypto community’s equivalent of DEFCON
1, with outraged token holders crying foul and demanding answers. Mantra’s
developers responded by telling them that it wasn’t them, but rather the
exchanges’ “reckless” actions.
Centralized Exchanges: The Enablers?
While much of the community's fury was directed at the suspected
insider dumpers, some of the spotlight has inevitably fallen on centralized
exchanges, which unwittingly became the battlefield for the OM
token bloodbath.
Today, John Patrick Mullin, CEO and founder of Mantra, blamed it all on
the CEXs.
John Patrick Mullin, CEO and founder of Mantra (LinkedIn).
The core of the criticism, at least from Mullins? Centralized exchanges enabled massive
liquidity for whoever decided to offload the tokens in one fell swoop. Unlike
decentralized exchanges, where whales can't easily offload without tanking the
price, Binance provided the ideal trapdoor for a less than graceful exit.
No official statement from the project has confirmed whether any
wallets involved in the sell-off were compromised or tied to insiders. So, the theory
runs that either the hacker is a master strategist with impeccable timing—or
someone knows more than they’re letting on. Mantra strongly reject this.
What This Means for the OM Token (and You, Dear Investor)
The fallout has been predictably brutal. OM token is now trading at
just a sliver of its pre-dump value. Sentiment has tanked, and the community is
on high alert. As of writing, Mantra’s team does not appear to have announced
any concrete compensation plan or restructuring proposal.
For holders, this crash is more than just a financial hit—it’s a case
study of how fast trust can vanish in the crypto world. Projects like Mantra,
which boast cross-chain ambitions and DeFi innovations, are built on community
faith and transparent governance. When that evaporates, so does the valuation.
Is This Just Another Week in Crypto?
Unfortunately, yes. OM’s spectacular collapse isn’t exactly novel. The
crypto world has a long, illustrious history of mysterious token dumps,
suspicious wallet activity, and insider shenanigans. But what makes this one
stand out is how brazen it was—and how utterly unprepared Mantra seemed to be
for the fallout.
Investors and regulators alike are watching closely. If there’s a
silver lining here, it’s that events like this accelerate the push for clearer
rules, better transparency, and fewer “oops, we got hacked” excuses.
Until then, the lesson is simple: if you're going to ape into a token,
you better know who’s holding the sell button.
Mantra’s OM crypto token crashes harder than your aunt’s retirement plan, with
centralized exchanges and suspected insider dumpers in the spotlight.
From Zero to OM: The Spectacular Self-Destruction of a Token
Mantra’s OM token didn’t just take a hit—it faceplanted into the crypto
pavement, losing over 90% of its value in less time than it takes to microwave
popcorn. What looked like just another quiet Monday in the crypto markets
exploded into full-blown chaos when OM token holders watched their portfolios
evaporate before their very eyes.
In what appears to be the latest “how not to Web3” case study, the
crash has sparked allegations of insider trading, botched tokenomics, and an
epic failure in transparency. And if you’re wondering whether centralized
exchanges helped or hurt the situation, well—strap in.
The Sell-Off Heard 'Round the Blockchain
The OM token began its steep decline late on April 13, when its price plummeted from $6.1
to as low as $0.43 within a single day. While the exact cause remains
unconfirmed, the crash has sparked widespread speculation about potential
insider activity and large-scale token sell-offs.
According to blockchain analytics platform Spot On Chain, several OM
token holders transferred approximately 14.27 million tokens to the crypto
exchange OKX three days before the crash. These accounts had previously
acquired around 84.15 million OM in March for a reported total of $564.7
million.
Naturally, this triggered the crypto community’s equivalent of DEFCON
1, with outraged token holders crying foul and demanding answers. Mantra’s
developers responded by telling them that it wasn’t them, but rather the
exchanges’ “reckless” actions.
Centralized Exchanges: The Enablers?
While much of the community's fury was directed at the suspected
insider dumpers, some of the spotlight has inevitably fallen on centralized
exchanges, which unwittingly became the battlefield for the OM
token bloodbath.
Today, John Patrick Mullin, CEO and founder of Mantra, blamed it all on
the CEXs.
John Patrick Mullin, CEO and founder of Mantra (LinkedIn).
The core of the criticism, at least from Mullins? Centralized exchanges enabled massive
liquidity for whoever decided to offload the tokens in one fell swoop. Unlike
decentralized exchanges, where whales can't easily offload without tanking the
price, Binance provided the ideal trapdoor for a less than graceful exit.
No official statement from the project has confirmed whether any
wallets involved in the sell-off were compromised or tied to insiders. So, the theory
runs that either the hacker is a master strategist with impeccable timing—or
someone knows more than they’re letting on. Mantra strongly reject this.
What This Means for the OM Token (and You, Dear Investor)
The fallout has been predictably brutal. OM token is now trading at
just a sliver of its pre-dump value. Sentiment has tanked, and the community is
on high alert. As of writing, Mantra’s team does not appear to have announced
any concrete compensation plan or restructuring proposal.
For holders, this crash is more than just a financial hit—it’s a case
study of how fast trust can vanish in the crypto world. Projects like Mantra,
which boast cross-chain ambitions and DeFi innovations, are built on community
faith and transparent governance. When that evaporates, so does the valuation.
Is This Just Another Week in Crypto?
Unfortunately, yes. OM’s spectacular collapse isn’t exactly novel. The
crypto world has a long, illustrious history of mysterious token dumps,
suspicious wallet activity, and insider shenanigans. But what makes this one
stand out is how brazen it was—and how utterly unprepared Mantra seemed to be
for the fallout.
Investors and regulators alike are watching closely. If there’s a
silver lining here, it’s that events like this accelerate the push for clearer
rules, better transparency, and fewer “oops, we got hacked” excuses.
Until then, the lesson is simple: if you're going to ape into a token,
you better know who’s holding the sell button.
Louis Parks has lived and worked in and around the Middle East for much of his professional career. He writes about the meeting of the tech and finance worlds.
Kalshi Prediction Market and TRON Integration Bridges Traditional Finance with Crypto
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
