This crypto hit with $12 million insider trading allegation before crashing 90%
The OM token from MANTRA DAO crashed over 90% early Monday, wiping out $5.36 billion, with the latest on-chain data suggesting insider transactions may have contributed to the free fall. Specifically, just five hours before the crash, a wallet that had been dormant for over a year transferred 2 million OM, then worth $12.58 million, to another wallet potentially linked to venture capitalist Shane Shin, according to the latest on-chain data retrieved by Finbold from Lookonchain on April 14. OM transactions linked to Shane Shin. Source: Arkham It’s worth noting that Shin, a venture capitalist at Shorooq Partners, has previously promoted MANTRA. However, there is no evidence of wrongdoing on his part. From 300x rally to 90% crash in minutes $5.5B in market value vanished as $OM imploded. pic.twitter.com/eQbeDrKm4o — CoinMarketCap (@CoinMarketCap) April 14, 2025 At the same time, data from crypto intelligence platform Arkham revealed that 17 wallets offlo...