The Mantra project has issued a statement addressing the unexpected significant drop in OM token prices. According to Odaily, the project clarifies that the Mantra team has not engaged in any selling activities. The team maintains 100% control over the funds of their OM mainnet and advisory teams, with ERC-20 tokens publicly circulating and not under their direct management. Currently, 77.5 million OM tokens are in circulation, while over 200,000 wallets utilize the OM token on the mainnet. A sharp drop in price initially caused a forced liquidation event, leading to automatic exchange liquidations for those utilizing OM as collateral. This triggered further price drops and asset seizures. Some major OM traders were liquidated by centralized exchanges. Mantra plans to release details of an OM Token Support Plan that includes token buyback and supply destruction strategies. Mantra CEO John Patrick Mullin has publicly pledged to eliminate the tokens allocated to his team.