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Laser Digital denies implications in OM token collapse and crypto market turbulence.
The Nomura-backed crypto investment firm found itself at the center of speculation after OM, the native token of MANTRA, plunged over 90%. Online chatter alleged that Laser was involved in large-scale OM token transfers to exchanges, contributing to the token’s dramatic fall in market cap. The price dip wiped more than $5.2 billion off MANTRA’s valuation in just hours.
Laser quickly issued a statement refuting these claims. “Laser has no involvement in the recent price collapse of $OM,” the company wrote on X. “Assertions linking Laser to ‘investor selling’ are factually incorrect and misleading.” They emphasized that none of their wallets had deposited OM to OKX and that their core investment remains locked.
Speculation Meets Blockchain Reality
Lookonchain, referencing ArkhamClick here for more Details data, identified 17 wallet addresses that moved $227 million in OM tokens to various crypto exchanges since April 7. One of these wallets, “0xB37DBD,” was allegedly tied to Laser. However, Laser denied ownership, stating that the address belonged to another party and that the transaction represented a return of collateral from a third-party financing deal.
Laser’s spokesperson clarified that on-chain data would validate the inflow and outflow of tokens associated with the financing expiration. The company reaffirmed its support of MANTRA, which focuses on real-world assets, having made a strategic investment in the project in May 2024.
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OM Price Collapse Prompts Exchange Scrutiny
As the OM token tumbled, OKX flagged “increased volatility” and initiated an investigation. The exchange has since adjusted its risk controls to manage further market disruption. OKX disclosed that the OM token’s structure had changed significantly since October 2024 and highlighted trading activity suggesting coordinated behavior across multiple centralized exchanges.
So far, OKX has not named any entities behind the trades. But the $71 million in liquidations linked to the collapse signals massive movement in the market, whether coordinated or not.
While some investors continue pointing fingers, Laser remains firm in denying any role in OM’s downfall. The firm has distanced itself from the wallets cited in reports and insists that its involvement in MANTRA remains limited to its long-term strategic investment. This incident underscores how misinformation and incomplete on-chain analysis can quickly spiral into serious reputational risks for crypto investors.
The story of Laser Digital denies implications in the OM token collapse is still developing as exchanges, analysts, and users piece together what triggered one of the most violent token crashes of 2025.
