Nomura's Laser Digital Rejects Claims of Role in Mantra Token Crash

Nomura Group’s digital asset arm, Laser Digital, has refuted claims suggesting its involvement in the recent 90% plunge of Mantra's OM token. Blockchain analytics had linked wallets associated with Laser Digital to significant OM transfers to exchanges prior to the crash. However, Laser Digital clarified that these wallets were not theirs and attributed the transactions to the conclusion of a financing trade with a third party. The firm emphasized that its core OM holdings remain locked and that the circulating assertions are "factually incorrect and misleading" .​

Mantra's CEO, John Mullin, also denied any insider sales, stating that the organization and its key investors had not sold OM tokens before the crash. He suggested that the wallets involved might have been mislabeled by Arkham Intelligence, a blockchain analytics firm.

The OM token's sharp decline was attributed to a combination of factors, including a significant influx of OM tokens to exchanges, leading to a liquidation cascade. Exchanges like OKX and Binance observed increased volatility and adjusted their risk controls accordingly. Binance indicated that the developments were a result of cross-exchange liquidations.

In summary, both Laser Digital and Mantra have denied any wrongdoing concerning the OM token's crash, attributing the incident to broader market dynamics and technical factors.​