Announcement on the Price Volatility of MANTRA (OM)

OKX TR has recently observed significant volatility in the MANTRA (OM) token. Following a sharp rise in its price beginning in early November 2024, the token experienced an initial sudden and substantial price decline of more than 80% across the market at approximately 2:28:32am (UTC+8) on April 14, 2025 ("Market Event"). We observed that substantial trading volume spikes and price decline initially happened across various centralised exchanges outside of OKX TR, before spreading to the overall market.

Following the incident, we have conducted investigations and identified major changes to the MANTRA token’s tokenomics model since Oct 2024, based on both publicly available on-chain data and internal exchange data. Our investigation also uncovered that several on-chain addresses have been executing potentially coordinated large-scale deposits and withdrawals across various centralized exchanges since Mar 2025.

In light of the above-mentioned market risks, we have adjusted a number of platform risk control parameters to mitigate potential impacts. OKX TR would also like to remind users that the current market environment involves heightened risk. Certain tokens may experience significant changes in supply, which could result in considerable price volatility. Users are advised to conduct thorough due diligence and exercise caution when engaging in trading activities.

A risk warning has been added to the OM token page to inform users of its increased volatility.

We will continue to closely monitor this situation and implement appropriate risk management measures to safeguard user interests and uphold platform stability. We sincerely appreciate your continued support and trust in OKX TR.

OKX TR Team
April 14, 2025