$OM Turns Into the New $LUNA?!
$6 Billion Vanished in 2 Hours — Here’s the Breakdown ⚠️🔥
In one of the wildest crashes since $LUNA's fall in 2022, $OM (Mantra) plummeted over 90% within just 2 hours, wiping out $6B+ in market cap and leaving thousands of holders stunned.
What is $OM?
🔹 A Layer 1 chain built on Cosmos
🔹 Focused on Real World Assets (RWA)
🔹 Recently ranked among the top 25 tokens
🔹 Promoted as a high-potential project
Everything looked bullish… until it wasn’t.
Red Flags That Were Ignored
⚠️ Rumors of market maker manipulation
⚠️ Delayed airdrops & vague promises
⚠️ Team allegedly held 90%+ of supply
⚠️ Hidden tokenomics changes
Basically, a "decentralized" project run by a centralized core.
The Collapse
💸 A wallet (possibly linked to the team) sent 6.5M $OM (~$41M) to OKX
🔥 Panic spread, triggering mass sell-offs
📉 Major sell pressure on Binance & other exchanges
⚠️ OTC investors dumped tokens fast
💀 Massive liquidations, whale losses (Shane Shin reportedly lost $11M)
Within 2 hours:
$OM down 90%
Over $6 billion erased
Holders left in the dark
The Aftermath
Mantra claimed it was just "forced liquidations in low liquidity hours" — but for most investors, the damage was already done.
Lessons Learned
✅ Watch who controls the supply
✅ Be cautious of hype without fundamentals
✅ Always DYOR (Do Your Own Research)
✅ Don't ignore early red flags
Final Word
This wasn’t just a crash — it was a reminder:
In crypto, transparency and trust matter more than pumps.
Next time a project seems too good to be true, ask yourself — who's really in control?
