❓ What happened to MANTRA's $OM token ?
• Its market cap plummeted from 5 billion to less than 1 million in a matter of hours, with over 90% of its value evaporating, leaving investors, including investment firms that believed in the project, high and dry.
MANTRA is a blockchain focused on the tokenization of real-world assets (RWA). Recently, on April 13, 2025, MANTRA faced a catastrophic event in the crypto market when the price of its token crashed dramatically, reaching losses of around 90% in a single day.
The MANTRA team came forward to explain to its investors, though, compared to Bybit’s response, they were slow to appear, which greatly frustrated the market. The CEO pointed to "reckless forced liquidations" carried out by centralized exchanges (CEXs) during a period of low liquidity, such as Sunday night in UTC.
According to the team, these liquidations were unrelated to internal project issues, such as hacks or actions by the team itself, like mass dumping, despite accusations that the team holds over 90% of the active supply in their wallets. They stated that the platform is operating normally and the project remains "fundamentally strong."
The lack of precise information has fueled speculation in the community. Some investors have raised hypotheses of potential security flaws or market manipulations, while others await more detailed clarifications. MANTRA reiterated its commitment to transparency and promised updates as the investigation progresses.
