Laser Digital Denies Links to Mantra Token Flash Crash
Laser Digital, a Switzerland-based trading firm linked to the Nomura Group, denied involvement in the recent flash crash of the Mantra token (OM), which lost 90% of its value. The firm stated that claims connecting it to "investor selling" are incorrect and misleading.
Key points include:
- Laser Digital published its controlled Mantra wallet addresses, showing no deposits to exchanges or selling activity.
- The Mantra team attributes the collapse to broader market pressures and forced liquidations on centralized exchanges.
- OKX reported that volatility was due to increased trading volume and an initial price decline across multiple exchanges.
- Prior to the crash, 17 wallets deposited 43.6 million OM ($227 million) to exchanges, triggering panic among holders.
- The Mantra team controls 90% of the circulating supply, exacerbating the sell-off.
- OM is currently trading at $0.57, down from a high of $6.14, with trading volume up 3,425% to $2.6 billion, according to CoinMarketCap.