OKX has accused @MANTRA_Chain of misleading $OM holders and has frozen their accounts, sparking a legal dispute over OM migration and custody issues. @okx claims that Mantra spread misleading information about OM, with multiple linked accounts using large amounts of OM as collateral to borrow USDT, artificially inflating the OM price and ultimately causing a crash. OKX stated that its risk team discovered this behavior and demanded rectification, but after account holders refused, OKX took over the relevant accounts; only a small amount of OM was liquidated, with the losses borne by the OKX Security Fund. Third-party analysis cited by OKX indicates that the price crash was primarily caused by continuous trading outside the OKX platform. Mantra CEO JP Mullin urged OM holders to withdraw their tokens from the OKX platform, questioning OKX's proposed migration timeline (claiming that ERC-20 OM cannot be migrated before its deprecation on January 15, 2026), and confirming that the protocol-level repricing (1:4) requires no user intervention. On December 10th, OKX sent a letter refuting Mullin's public statements and has submitted evidence to regulators. Multiple legal proceedings are currently underway, leading to uncertainty regarding the migration details for OM holders and the exchange's custody arrangements. (AI Analysis) OKX accuses individuals of conspiring to use OM as collateral to borrow USDT and claims that OKX froze related accounts after holders refused to correct the situation; however, only a small amount of OM was liquidated, with losses borne by OKX's securities fund. Mantra's CEO has disputed the migration timeline and urged users to withdraw their funds. Meanwhile, OKX has submitted evidence to regulators, and multiple legal proceedings are ongoing, creating uncertainty for OM holders regarding custody and migration.