Mantra released a post-crash statement on its OM token but offered little clarity while confirming buyback and burn plans to support the community.
Troubled decentralized finance (DeFi) platform Mantra released an official statement addressing the reasons for a 92% flash crash of its OM token on April 13.
An April 16 announcement titled “Statement of Events: 13 April 2025” reiterates that the crash did not involve any token sales by the project itself, and the Mantra team remains fully functional and continues investigating the incident.
Although Mantra CEO John Mullin previously said that the team was preparing a post-mortem, the new statement offered few new details about the reasons behind the rapid movement of OM tokens to exchanges and the subsequent liquidation cascade.
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