Louis Valentine

Let's clarify the facts, since MANTRA team continues to push a misleading narrative: 1. OKX identified evidence that multiple connected and colluding accounts used large quantities of OM as collateral to borrow significant amounts of USDT, artificially pushing OM’s price up. 2. Our risk team properly flagged this abnormal activity, contacted the account holders, and requested corrective action. They refused to cooperate. 3. To contain the risk, control of these related accounts was taken. Shortly afterward, the OM price crashed. OKX liquidated only a very small portion of OM, yet the sharp price collapse resulted in substantial losses that were fully absorbed by the OKX Security Fund. 4. Multiple third-party analyses indicate that the price crash was predominantly driven by perpetual trading activity that was not on our exchange. 5. The OKX Security Fund operated exactly as designed. There has been no explanation of where those unusually large quantities of OM originated, nor why these groups of individuals held and controlled such a substantial portion of the token supply. 6. OKX has already submitted full evidence and documentation to regulators and law-enforcement agencies. 7. Multiple litigations and legal proceedings are currently underway. Instead of addressing these serious and suspicious activities, the MANTRA team continues to ignore the facts and publicly blame OKX. This behavior is highly unprofessional. OKX will continue to cooperate fully with regulators and remains committed to protecting our users, as we always have.