Internet reports that the Movement Labs and Mantra incidents have attracted widespread attention in the crypto market to the market-making mechanism. Some Movement Labs executives have been accused of colluding with their market makers to sell MOVE tokens worth US$38 million on the open market. At the same time, Mantra's OM tokens plunged more than 90% in hours at the end of April without obvious negative news, raising questions about token unlocking arrangements and over-the-counter trading transparency. Analysts believe that these incidents exposed the distorting impact of hidden contracts, non-public agreements and over-the-counter transactions in the crypto market on token supply and price discovery mechanisms. A number of market-making agencies are reassessing the token risk underwriting process and requiring project parties to provide greater transparency. Hong Kong market maker Metalpha said it has adjusted its trading structure to emphasize long-term strategic consistency and introduced mechanisms to prevent excessive selling and false trading volumes. Industry insiders point out that informal transactions in the over-the-counter market are disrupting the dynamics of token supply and making it more difficult for market makers to maintain liquidity.