Behind the plunge of $OM , the so-called national plate
The OM project is essentially a meticulously operated OTC (over-the-counter) fund scheme, and its operational model is astonishing. Over a two-year OTC trading period, the project has absorbed as much as 500M (here M should be understood as millions by industry convention, i.e., 500 million) in funds. Its core technique is to issue new OTC tokens to bear the selling pressure of old tokens, forming a seemingly perpetual cycle, while in reality, it continuously accumulates risks until the market can no longer bear the selling pressure, leading to the project's collapse.
Even more astonishing is that the project team not only continues to cash out during this process but also uses market fluctuations for contract trading to earn additional profits. They cleverly utilize social networks to attract a group of wealthy second-generation investors from Dubai and Europe, even successfully “OTC” trading tokens worth 50M at an electronic music festival, showcasing exceptional fundraising capability.
More cunningly, in the face of the impending token unlocking wave, the team is willing to resort to legal measures, suing the holders of old OTC tokens to delay the unlocking time, attempting to exchange time for more operational space. This method of combining legal means with financial fraud undoubtedly pushes the strategy of “exchanging time for space” to the extreme.
The trigger this time is that it really cannot move, and then click… I will issue another 100% and continue OTC
But the bosses who haven't unlocked and are about to unlock do not agree….
