$OM

This article describes how the price of OM collapsed.

- First, there must be a large amount of $OM and a sufficiently large stable coin.

- Choose 1-3 centralized exchanges (cex) with a large trading volume of OM,

- Then simultaneously execute both the spot market and the derivatives market; if you pay attention, you will notice a delay between these two markets. However, the price decrease or increase effect from these two markets will cause the price of a coin to rise or fall sharply in a short period. In the case of OM, both markets have large sell orders. This leads to a rapid drop in the price of OM.

- Additionally, the decentralized exchange (dex) market is also used in this case when the price difference between dex and cex is large. The attacker can collateralize OM to obtain stable coins to provide capital for the OM market.

- Cex and Dex also have a delay, meaning that the attacker has collateralized OM at a higher price than the price at cex, and to ensure liquidity, dex must liquidate the collateral.

Thus, the effects from the spot and derivatives markets in cex, along with the delay from dex, lead to the price drop of OM.

Besides OM, high-priced coins can also be attacked in this way.

The condition to carry this out is to have a large amount of OM and stable coins!!!