MANTRA ($OM) Token Crashes Over 90% – What Happened ?

On April 13, 2025, the MANTRA (OM) token suffered a dramatic collapse, losing over 90% of its value in just a few hours. The price plummeted from around $6.30 to under $0.50, wiping out more than $6 billion in market capitalization.

Although initial reactions speculated about a possible "rug pull" or large team sell-off, MANTRA co-founder John Patrick Mullin denied these allegations.

He attributed the crash to forced liquidations on centralized exchanges, triggered by the sudden closure of large leveraged positions in low-liquidity conditions.

Mullin emphasized that team and investor tokens remain locked according to the vesting schedule and even provided a public wallet address for verification.

This incident has significantly shaken investor confidence.

The crypto community quickly compared the event to the LUNA and FTX collapses, expressing concerns over transparency and risk management within the project.

As of now, OM is trading around $0.79, still down more than 87% in 24 hours.

Although the MANTRA team has announced a community AMA session to address the situation, investor trust remains fragile.

Clear communication and concrete recovery measures will be essential to restore credibility.

For now, investors are advised to closely monitor upcoming developments and maintain a cautious approach when considering exposure to OM.