Part 2/9:
Mantra marketed itself as a pioneering force in tokenizing real-world assets, such as real estate and bonds, on the blockchain. Their vision, strategic partnerships, and consistent messaging buoyed the MM token's price from under a dollar to an impressive $9. For a time, it seemed as though the project could do no wrong. However, this all began to unravel around April 11, when significant amounts of MM tokens—valued at around $227 million—were deposited on the exchange OKX. Strikingly, the CEO, JP Mullen, acknowledged being aware of these transactions but dismissed concerns about potential liquidations.