😡The OM event (MANTRA token) "crashed hard" on April 14, 2025
👀Time: From the night of April 13 to the morning of April 14, 2025 (Asia time), the price of OM dropped from ~$6.40 to ~$0.57 in 6 hours, losing 90-92% of its value, with a market cap evaporating by $5.5-6 billion USD.
😕Cause: Forced liquidation on centralized exchanges (CEX) during low liquidity hours, according to the CEO of MANTRA, is an act of "negligence" or "manipulation".
🤮Over $41 million OM tokens were transferred to the exchange before the crash, suspected internal sell-off.
🥶Market sentiment is panicked, amplified by global cryptocurrency volatility.
💩Consequences: The community is shocked, comparing it to the Luna incident in 2022; the price of OM is at a low (~$0.57), the project has not confirmed a halt in operations.
Note: Rumors about the team resigning or manipulation have not been verified, information mainly from X and the CEO.
#OMscam $OM