Troubled decentralized finance platform Mantra responded to the 92% crash of its OM token on April 13th with a statement addressing the incident. The statement, released on April 16, clarifies that no token sales were conducted by the project itself, and the team remains committed to investigating. While the statement offered some clarity on the incident’s causes, it did not provide comprehensive answers about the rapid movement of OM tokens off exchanges and subsequent market instability. The platform emphasized the distinction between ERC-20 and Mantra Mainnet OM tokens, stating that the crash was primarily affected by ERC-20 OM, which constitutes a majority of the liquid market. Despite this clarification, the statement raised further concerns regarding limited circulation of the mainnet OM tokens after the Mantra Chain minted an equivalent amount in October 2024. The platform also highlighted discrepancies between OM spot prices on OKX and Binance, suggesting potential issues with trading activity before the crash. Mantra’s response indicated plans for a support plan for OM through a token buyback and a supply burn but offered no specific timeline. The statement also included calls for further collaboration with exchange partners regarding the event’s trading activities, emphasizing their role in providing more transparency. However, there has been little official response from Mantra since the statement’s release.