Mantra Collapse Sparks Debate on Trust in DeFi, Says Analyst

DeFi Hack MANTRA Last updated: April 15, 2025 Journalist Tanzeel Akhtar Journalist Tanzeel Akhtar About Author Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com. Author Profile Share Copied Last updated: April 15, 2025 at 20:17 GMT+3 Why Trust Cryptonews Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews Key Takeaways: Mantra (OM) lost 90% of its value within an hour on April 13, erasing $6 billion in market cap. On-chain data shows large token movements before the crash, raising suspicions of insider activity. The collapse has intensified concerns about transparency and governance in DeFi projects. The dramatic collapse of Mantra (OM) has renewed concerns over trust and transparency in the decentralized finance (DeFi) sector. In a matter of minutes on April 13, Mantra lost 90% of its value, wiping out $6 billion in market capitalization without any confirmed security breach or external attack. Overhyped New Layer 1 Blockchains to Blame?. Jean Rausis, co-founder of decentralized finance platform SMARDEX, weighed in on the situation, pointing to the dangers of overhyped new Layer 1 blockchains that lack decentralized backing and historical resilience. “Sunday’s Mantra token collapse points, once... https://cryptonews.com/news/mantra-collapse-sparks-debate-on-trust-in-defi/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple