The OKX exchange is investigating the collapse of the OM token, raising industry-wide concerns about centralized exchanges during low liquidity periods. The OM token's market value dropped 90% within an hour, erasing $5.5 billion in market capitalization.
Mantra DAO denied involvement, attributing the crash to forced liquidations by exchanges. OKX CEO Star Xu labeled the event a "major scandal" and committed to transparency in the investigation.
The incident has prompted calls for improved regulations and risk management practices within decentralized exchanges to enhance investor protection and market stability.
Full story here: https://coincu.com/332102-okx-mantra-token-investigation-report
