Rising Tensions Between Mantra and OKX
The conflict between the blockchain platform Mantra and the cryptocurrency exchange OKX has intensified following claims from Mantra of misinformation regarding their token migration.
In a post on the social platform X, Mantra CEO John Patrick Mullin cautioned OM token holders against remaining dependent on OKX and suggested that they withdraw their tokens. He indicated that the exchange had not maintained proper communication regarding the migration schedule, leading to confusion about the timelines.
“Users should consider withdrawing their OM tokens from OKX. Avoid OKX Exchange Dependency: Complete migration without relying on potentially negligent or malicious intermediaries.”
Mullin’s comments came after OKX released a statement on Friday about their support for the OM token migration, which is claimed to have contained multiple inaccuracies related to the migration schedule.
He pointed out that OKX asserted the migration would occur between December 22 and December 25, conflicting with Mantra’s governance proposal that indicates the migration will follow the January 15 discontinuation of the original ERC-20 OM token.
Mullin also criticized OKX for referencing arbitrary dates in December 2025 without confirming an actual timeline for implementation.
During this migration, the OM token will transition from an Ethereum-native format to one native to the Mantra Chain.
Related Links
For a visual timeline, you can view the OM/USD one-day chart here.
Looking Back
In an earlier event on April 13, the value of Mantra’s OM token plummeted by over 90%, leading to significant scrutiny of trading practices and policies on exchanges.
Mullin has urged digital currency firms to reassess their leverage policies to enhance investor safety.
