TLDR

• OKX raised concerns about Mullin’s comments on OM tokens, threatening legal action over the migration process.
• The dispute centers on MANTRA’s plan to shut down the ERC20 OM token and replace it with the new version.
• MANTRA CEO JP Mullin reassured the community, stressing readiness to cooperate with OKX for a smooth migration.
• MANTRA plans a 1:4 token split and gas unit change as part of its upcoming upgrade in January 2026.
• OKX accused Mullin of encouraging users to withdraw tokens, further straining relations between the two parties.

A public dispute erupted between OKX and MANTRA over the OM token migration procedure. The disagreement escalated following a response from MANTRA CEO JP Mullin on December 12. OKX has expressed concerns over comments made by Mullin, while MANTRA stresses the importance of transparency in the process.

OKX Raises Concerns Over Token Migration and Potential Legal Action

OKX raised concerns about comments made by Mullin regarding OM tokens held by the exchange. The crypto exchange questioned how MANTRA was handling its token migration and suggested it could take legal action. OKX’s letter warned that any potentially harmful decisions by MANTRA could lead to legal consequences.

Let’s clarify the facts, since MANTRA team continues to push a misleading narrative:

1. OKX identified evidence that multiple connected and colluding accounts used large quantities of OM as collateral to borrow significant amounts of USDT ($1.00), artificially pushing OM’s price up.
2.… pic.twitter.com/8nJUlr7PnV

— OKX (@okx) December 12, 2025 

Despite this, OKX expressed its desire to work constructively with MANTRA during the migration process. The main point of contention lies in the plan to shut down the ERC20 version of the OM token. MANTRA plans to replace it with the new MANTRA Chain-native OM token, which will be active by January 25, 2026. OKX’s letter also stated that it did not consider Mullin’s initial post as MANTRA’s official stance on the issue. The crypto exchange warned against further public comments that might harm its reputation and market stability.

MANTRA CEO Responds and Assures Cooperation with OKX

In response to OKX’s concerns, Mullin emphasized that MANTRA is ready to cooperate with the exchange. He reassured the community that the project would ensure a smooth migration of all OM tokens. MANTRA also intends to roll out a chain upgrade on January 15, 2026, featuring a 1:4 token split.

I want to make it VERY clear. Neither MANTRA or myself have ANY ongoing litigation or legal actions ongoing with OKX. This is between them and other larger traders/investors of OM.

This situation hasn’t been in the public domain until they totally misunderstood the migration…

— JP Mullin (, ) (@jp_mullin888) December 13, 2025

This upgrade will increase the total token supply and each user’s balance by a factor of four. Furthermore, MANTRA Chain will change its gas unit from uOM to aMANTRA, expanding the decimals from six to 18. Mullin stressed that this change would be implemented to ensure the project’s continued growth and success. Mullin also responded to OKX’s accusations about encouraging users to withdraw their OM tokens.

He defended his comments, stating that they were intended to protect the interests of the MANTRA community. The CEO reassured that the project is fully committed to ensuring that the migration process moves forward smoothly. OKX issued a strongly worded letter accusing Mullin of making derogatory remarks about the exchange. The letter expressed discontent over the suggestion that users withdraw their OM tokens. OKX cautioned Mullin to refrain from further comments that might negatively affect its relationship with the community.

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