Shorooq's Official Statement on MANTRA [14th April - 3PM GST]

In light of the recent developments surrounding the sudden market movements and price action of the OM token, we wanted to address our community with transparency and clarity. The past 24 hours have been challenging for everyone involved with MANTRA, and as one of the key investors in the project, we feel it's essential to provide you with the facts as we know them, and outline where we stand. It is important to note up front that Shorooq (its funds and founding partners) and MANTRA (management and team members), have not sold OM tokens in the lead up to, or during, this crash.
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What Happened

On April 13, the price of MANTRA’s OM token experienced a dramatic drop of approximately 90% within a matter of hours. This caused significant concern across the crypto community, and understandably so. However, through on-chain analysis and internal discussions, we can confidently confirm that no exploit or malicious act occurred. The root cause of the crash was a forced liquidation of large leveraged positions that utilized the OM token as collateral. These positions were unwound abruptly by the exchange, triggering a cascade of sell-offs across the market, which ultimately resulted in the drastic price drop.

The timing of this liquidation, occurring during low-liquidity hours late on Sunday night (Asia time), significantly amplified the market’s response. Unfortunately, this triggered a panic sell-off that affected the OM price throughout Monday, April 14, 2025.

MANTRA, the team has acknowledged the incident and is actively investigating the cause of the liquidation. They have committed to publishing a detailed post-mortem once all the facts are clear, and we fully support their transparency and accountability in the process.
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Shorooq’s Position: We Are Long-Term Investors

It’s important to emphasize that Shorooq is an equity investor in MANTRA, not solely a token investor. This means that our focus is on the long-term growth of the project. We are backing MANTRA because we believe in its vision for creating a blockchain platform capable of bringing real-world assets (RWA) on-chain in a way that meets regulatory requirements and supports a more inclusive and accessible financial ecosystem. Our support for MANTRA has always been grounded in the project’s technology, team, and value proposition, rather than short-term fluctuations in token price.
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No Shorooq Involvement in Token Sell-Off: We want to make it unequivocally clear that aside from a test sale on the March 24 and 25, wherein a non-meaningful portion of tokens was sold to test the robustness of our systems, Shorooq has not sold or traded any OM tokens. Most of our tokens remain locked in accordance with the vesting schedule. Any rumors suggesting investor-led selling (including Shorooq or others) are patently false. 
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Our Commitment to Transparency and Accountability

MANTRA & Shorooq believe that transparency is paramount, both for us as investors and for the community that supports MANTRA. We’ve been clear about our expectations for full accountability and a thorough investigation into the events that transpired. The community deserves clear answers, and we will continue to advocate for them.
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MANTRA, Shorooq

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