445655078752025.4.14 Crypto News

The altcoin $OM experienced a flash crash, dropping 80% within an hour.

From 2 AM to 4 AM on the 14th, $100 million worth of OM contracts were liquidated, with the price plummeting from $6.3 to a low of $0.36, a maximum drop of over 95%.

In response to the sudden situation, the project team stated that the volatility was caused by chaotic liquidations and was not caused by the team.

It is understood that the well-known anti-fraud blogger Ice Frog exposed this project’s three-step PUA airdrop back in March of this year. Additionally, this is an old coin, which is said to be a Malaysian fund scheme, and the same group’s GameFi subsidiary had someone modify the model in 2021.

In other words, even if the likelihood of the project team orchestrating a dump is low, whether due to liquidation chain reactions or the exchange’s actions, this project is fundamentally flawed, a plaything for capital, and everything is a harvest, with the possibility of premeditation not ruled out.

In another major development, founder @BobBodily has liquidated all tokens he held, and the platform has currently suspended trading and withdrawal functions. The founder claims it was the work of hackers, not something he did himself. Do you believe that?