#Ethereum✅ #Cosmos - ATOM

Mantra Token Faces Sudden 90% Crash Amid Exchange Liquidations

In a shocking turn of events, Mantra’s native token—built to tokenize real-world assets—plunged from $6.30 to under $0.50 on April 13, wiping out over 90% of its $6B market cap. According to co-founder John Mullin, the crash was caused by centralized exchanges forcibly liquidating positions without prior notice. He hinted at either extreme negligence or deliberate market manipulation.

Despite circulating rumors of a rug pull or loan default, Mullin denied both, confirming no outstanding debt. Although the price briefly rebounded, it currently sits around $0.7894. Interestingly, blockchain data showed heavy token movements just before the crash, fueling more questions. The Mantra team plans a community event to clarify the incident and share what’s next.