Reef Finance Founder Under Scrutiny After Mantra Token Meltdown

The aftermath of OM’s dramatic crash continues to fuel speculation and accusations within the crypto community. This token, native to the Mantra blockchain, lost nearly 90% of its value in a single day, plunging as low as $0.50 before stabilizing slightly at $0.66. ZachXBT, a prominent crypto investigator, has been leading the charge on identifying possible culprits behind this sudden crash. His latest investigation points fingers at Denko Mancheski, founder of Reef Finance, and another X user, Fukogoryushu, suggesting they engaged in suspicious activity prior to the collapse. [Continue with description of how Denko & Fukogoryushu allegedly contributed to the OM crash.]. Reef Finance itself carries a history of controversy, including past market manipulation allegations that ultimately led to Binance delisting the token in October 2024 and a controversial $80 million OTC deal with Alameda Research in 2021. The investigation also reveals that Fukogoryushu proactively reached out to a number of individuals seeking substantial loans against their OM tokens.