#om Token Collapse: On April 13, 2025, OM's price plummeted by 98% within an hour, dropping from nearly $6 to $0.57. This sharp decline erased over $6 billion in market capitalization. Accusations emerged that an insider group, known as the "Kabal team," executed a massive token dump.
Legal Issues: A Hong Kong court ordered key figures involved in the MANTRA DAO project to disclose financial records in response to allegations of asset misappropriation and unauthorized control. The case has garnered significant attention due to its potential implications for transparency and governance within the blockchain space.
Token Migration: MANTRA DAO has initiated a migration from OM Token V1 to V2. Users are encouraged to swap their V1 tokens for V2 through the official platform, with a small gas fee required for the transaction.
Market Performance: Despite recent challenges, OM has shown resilience. Whale activity has been notable, with the top ten whale wallets accumulating over 15.6 million OM tokens, indicating long-term confidence in the asset.
