One is the CEO of an Altcoin Previously Delisted by Binance

Mantra (OM), which lost approximately 90% of its value with the decline it experienced yesterday, continues to remain on the agenda.

Although there are claims that the development team is behind the drop, OM founder John Mullin denies this claim.

Mantra, which was among the world’s top 30 cryptocurrencies before the crash, lost over $5 billion in value in a single day. OM cryptocurrency users are now questioning who is responsible for the crash.

However, crypto detective ZachXBT has completed his investigation into the matter and shared the suspects behind the drop. According to ZachXBT, Reef Finance founder Denko Mancheski and Fukogoryushu are behind the Mantra incidents.

The detective says that the reason these names are suspicious is that the duo approached various people in the last few days before the fall to borrow large amounts of money using OM collateral. ZachXBT said that these people reached out to him and told him that Denko Mancheski and Fukogoryushu wanted to borrow large amounts of money using OM collateral.

ZachXBT noted that the REEF token had also experienced similar market manipulation in the past, making an over-the-counter deal with bankrupt company Alameda Research worth $80 million and eventually being delisted by Binance in October 2024.

The detective did not comment on whether Mantra’s CEO and development team were aware of all this, saying that users should decide for themselves.

*This is not investment advice.