In light of the MANTRA team's continued dissemination of misleading statements, we hereby clarify the facts:
1. OKX has discovered evidence that multiple interconnected and colluding accounts used a large amount of OM as collateral to borrow a large amount of USDT, artificially inflating the price of OM.
2. Our risk team correctly flagged this anomalous activity and contacted the account holders, requesting corrective action. However, they refused to cooperate.
3. To control risk, we took control of these linked accounts. Shortly thereafter, the price of OM plummeted. OKX liquidated only a very small amount of OM, but the sharp price drop resulted in substantial losses, all of which were borne by the OKX Security Fund.
4. Multiple third-party analyses indicate that the price crash was primarily caused by continuous trading activity outside of our exchange.
5. The operation of the OKX Security Fund was entirely as expected.
Currently, there is no explanation as to the origin of these unusually large quantities of OM tokens, nor is it explained why these groups hold and control such a large proportion of the token supply.
6. OKX has submitted all evidence and documents to regulatory and law enforcement agencies.
7. Several lawsuits and legal proceedings are currently underway.
The MANTRA team has not only failed to address these serious and questionable activities, but has also continued to ignore the facts and publicly accuse OKX. This behavior is extremely unprofessional. OKX will continue to fully cooperate with regulatory agencies and remains committed to protecting its users.
