TechFlow news, on April 14, according to leaks from HashKey Capital member Rui and ArkStream Capital Founding Partner Ye Su on X, the cryptocurrency project MANTRA (OM) is an "on-the-ground OTC scheme" with an OTC scale reaching $500 million, operating in a cycle of "using new OTC tokens to absorb old OTC sell-offs," until finally the unlocked holdings collapse when the "OTC stops moving."
According to the leak, in 2023, when OM token's FDV dropped to nearly $20 million and was almost abandoned, through a broker, Middle Eastern capital stepped in to acquire it, retaining only the CEO position. This Middle Eastern capital holds substantial physical assets such as luxury homes and resorts, and subsequently repositioned OM as a real-world asset tokenization (RWAfi) project.
Ye Su stated that under high-level control, OM achieved Binance's highest gain in 2024, rising 200-fold, and the team is still actively promoting its "OTC scheme" business recently.
