Token got Exploit or Insider Dump?

[cryptoaddictchie]

Im not sure if you are aware guys about mantra am rwa project narrative. Today was dumped up to 90% from $6.5usd to lower 0.45 to 0.6 spiking volatility. Almost 4 to 5B usd got burned and wiped out from the project in span of less than 3hrs.

Any thoughts on this? Still waitimg for the team to acknowledge the incident as their coincidentally on a long haul flight to Korea.

Still waiting for details or info on the incident. (Will attach news link for what happened if already seen one).

[o48o]

Im not sure if you are aware guys about mantra am rwa project narrative. Today was dumped up to 90% from $6.5usd to lower 0.45 to 0.6 spiking volatility. Almost 4 to 5B usd got burned and wiped out from the project in span of less than 3hrs.

Any thoughts on this? Still waitimg for the team to acknowledge the incident as their coincidentally on a long haul flight to Korea.

Still waiting for details or info on the incident. (Will attach news link for what happened if already seen one).

Seems pretty obvious to me:



I would have predicted it's a nonsense vaporware just because them using buzzwords, like "fully compliant, end-to-end ecosystem for RWA tokenization and trading".

I have only seen one RWA project that made remotely any sense, and just from that i know it's not easy job to build it. There are ton of obstacles that majority doesn't even know of.

And saying things like being fully compliant is most likely malicious lie, because most of crypto investors wouldn't even know what elements that should contain, or in what regions.

[JeromeTash]

It looks like Market manipulation, but they are trying to brush it off and blame it on some liquidations that were not in their control. I haven't been following the RWA narrative that much but from the look of things, we are still in the same old loop of joke tokens, manipulation, Token devs getting richer while newbie retail traders get all their valuable coins sucked away from them. So nothing surprising with the MANTRA debacle. It's just the same old wash, rinse, repeat.

[nelson4lov]

I said it here on forum a couple of days that current RWA in crypto is just bullshit and have zero actual value. Most of them are just baked with buzzwords amd their teams use that to deceive VCs and unsuspecting users. RWA didn't start today. I think there were dozen of RWA projects that raised money here on the forum via an ICO and none of those projects are alive today.

I wasn't surprised to see that OM chart. My only regret was that I didn't short it when I saw it around $8.5 to $9 and thought to myself that it was too high for such a project and I chickened out because of how strong the run from sub $1 to $9 was.

[TastyChillySauce00]

Nobody knows whats going but the token itself always suspected of having low float, meaning can be manipulated easily by the team.
I've seen so many KOLs calling out mantra and the founder never debunked the accusation properly.

Even the founder himself said he's unsure and suspect forced liquidation. it was pretty dumb.

[Hispo]

...

Any thoughts on this? Still waitimg for the team to acknowledge the incident as their coincidentally on a long haul flight to Korea.

Still waiting for details or info on the incident. (Will attach news link for what happened if already seen one).

Not much to think or say about this one, it is pretty obvious what happened there, it was pretty much an exit scam by the team.
The fact they deleted their telegram channel and they remain silent on the destiny of their project only show how involved they are in this scam and the rug pull this project actually was.
Anyways, the only mind-numbing thing is how this shit token and shit project managed to get listed in a serious exchange as Binance is supposed to be.
Lately Binance has been listing a lot of garbage since CZ was forced to step down as the CEO...

Anyways, stay safe and remember there are always thousands of scammers out there waiting for chances to grab your money in a way or other.

[shinratensei_]

Lately Binance has been listing a lot of garbage since CZ was forced to step down as the CEO...

I'm thinking the same, they always listed garbage these days, like they become worse every passing day, every coin getting listed in binance is already priced in before listing and when it hits binance it dumped so hard, an exit liquidity for earlier buyers.

Mantra were getting endorsed by Binance as well getting as far as having interviewed the founder, their quality dropped so much it's ridiculous.

[CroverNo01]

It looks like Market manipulation, but they are trying to brush it off and blame it on some liquidations that were not in their control. I haven't been following the RWA narrative that much but from the look of things, we are still in the same old loop of joke tokens, manipulation, Token devs getting richer while newbie retail traders get all their valuable coins sucked away from them. So nothing surprising with the MANTRA debacle. It's just the same old wash, rinse, repeat.

Tokens can either be valuable or not but in either way, we ensure to reap huge profits for ourselves and counting our steps because it's important to know exactly what you're doing in an open space in the market. Tokens are the gems we've been spotting on to accumulate in huge pieces in the market, we can do anything within our reach to make sure we're leading the system with
The market is always risky for newbies who do not have an idea about what they're signing up for in the market. Losses are necessary to take but try your possible best to reduce its ratio because it's unbearable.

[asriloni]

Dev dumping all of their tokens to the market, and they made an excuse if they have no internet connection.

This token is officially being rugpulled by its developers. They're now disappearing, and probably go holiday with the money from rug the market.

It was team whose dumping the token. The token contract has nothing to do with the rugpull happened in mantra, and like what i said in the different thread. it was the team who is dumping almost 300 millon usd worth of OM token to the market. It's another Luna, but initiated by the team themselves.

[crwth]

Damn. This has been an ongoing trait and scheme for people to rugpull so quickly. I would rather invest in meme coins rather than projects that look so legitimate and havee a plan and then the team dumping towards investors.

Having giants like Binance to back them up makes it hard for me to stay in Binance as well. Just pure trading with the biggest crypto, mainly BTC would be my trading pair.

[Taskford]

Im not sure if you are aware guys about mantra am rwa project narrative. Today was dumped up to 90% from $6.5usd to lower 0.45 to 0.6 spiking volatility. Almost 4 to 5B usd got burned and wiped out from the project in span of less than 3hrs.

Any thoughts on this? Still waitimg for the team to acknowledge the incident as their coincidentally on a long haul flight to Korea.

Still waiting for details or info on the incident. (Will attach news link for what happened if already seen one).

You can read good info about about what happen to Mantra here https://www.ccn.com/analysis/crypto/om-price-crashes-rug-pull-rumors-surround-mantra/

Its crazy that people trust these scumbags for their money. That's why I'm not really a fan to hold other alts because I always have doubts that this situation will happen. What happen to Mantra is good call for those people still hold alts to check what they are acquiring and better dump it before bad situation came.

Also just choose to hold Bitcoin for security since we can assure that there's no rug pull will happen with this coin.

[melinoe]

Damn. This has been an ongoing trait and scheme for people to rugpull so quickly. I would rather invest in meme coins rather than projects that look so legitimate and havee a plan and then the team dumping towards investors.

Having giants like Binance to back them up makes it hard for me to stay in Binance as well. Just pure trading with the biggest crypto, mainly BTC would be my trading pair.

Binance is going for the profit - it's obvious.

They get the funds flowing either way, and common people suffer.

[passwordnow]

Lately Binance has been listing a lot of garbage since CZ was forced to step down as the CEO...

They even admitted it that many of their listings are totally garbage and there is no way for them to stop themselves as long as there is quick cash that's coming to them.

Anyways, stay safe and remember there are always thousands of scammers out there waiting for chances to grab your money in a way or other.

And also invest to the reputable ones. People don't need to go that far in investing and Bitcoin is already there that they can hope for and live for the long term. It's the best than taking a gamble with these altcoins that they'll trust in the beginning and hope that they won't commit a rugpull.