Analysis: Mantra and market makers inflated OM token liquidity by exploiting data aggregator verification loophole

Mars Finance News: In the latest episode of podcast discussion, it was alleged that Mantra and its associated market makers exploited data aggregator self-reporting system vulnerabilities to manipulate the OM token liquidity metrics. They distorted circulating supply and trading volume, creating a false impression of market activity. The Mantra team collaborated with market makers to cycle tokens between controlled addresses and exchanges, simulating trading volume and artificially inflating data without substantial natural participation. On-chain observers noted that the OM token's truly liquid supply is less than 1%, yet it ranks in the top 25 by market capitalization. This strategy exploited loopholes in CoinGecko and CoinMarketCap verification processes, which rely on project team self-reported data and cross-reference with exchange listing information and surface blockchain analysis. Bad actors could allocate tokens to market makers to orchestrate seemingly natural trading activities, evading scrutiny even without retail investor participation. When an OM whale sold, the artificial liquidity collapsed, causing the price to drop 90% within 90 minutes, causing the market value to evaporate billions of dollars and exposing the asset's fragile trading depth. (CryptoSlate)