A wallet received 2 million OM before the collapse 5 hours ago, currently losing more than 11 million USD

According to information from ChainCatcher, monitoring data from Lookonchain reveals:

5 hours before OM collapsed, a cryptocurrency wallet that had been dormant for 1 year suddenly transferred 2 million OM to an address suspected to be related to Shane Shin (an investor/potential partner of the project).

This amount of OM was received at a value of ~12.58 million USD (estimated price ~6.29 USD/OM), but is now worth only ~1.57 million USD (price ~0.785 USD/OM – a decrease of 87.5%).

Suspicion analysis:

The timing of the transaction just before OM plummeted raises questions about signs of internal offloading.

Shane Shin (if confirmed) could be a factor related to MANTRA DAO – the organization behind OM.

The community is demanding transparency regarding the transaction history and the relationships between the parties.

Additional context:

This is one of many suspicious transactions prior to the event of OM's devaluation, including Laser Digital (strategic partner) transferring large amounts of OM to exchanges.

Exchanges like Binance and OKX are under pressure to investigate and publish reports.