$OM Turns Into the New $LUNA?!
$6 Billion Vanished in 2 Hours โ Hereโs the Breakdown โ ๏ธ๐ฅ
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?
๐น A Layer 1 chain built on Cosmos
๐น Focused on Real World Assets (RWA)
๐น Recently ranked among the top 25 tokens
๐น Promoted as a high-potential project
Everything looked bullishโฆ until it wasnโt.
Red Flags That Were Ignored
โ ๏ธ Rumors of market maker manipulation
โ ๏ธ Delayed airdrops & vague promises
โ ๏ธ Team allegedly held 90%+ of supply
โ ๏ธ Hidden tokenomics changes
Basically, a "decentralized" project run by a centralized core.
The Collapse
๐ธ A wallet (possibly linked to the team) sent 6.5M $OM (~$41M) to OKX
๐ฅ Panic spread, triggering mass sell-offs
๐ Major sell pressure on Binance & other exchanges
โ ๏ธ OTC investors dumped tokens fast
๐ 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" โ but for most investors, the damage was already done.
Lessons Learned
โ Watch who controls the supply
โ Be cautious of hype without fundamentals
โ Always DYOR (Do Your Own Research)
โ Don't ignore early red flags
Final Word
This wasnโt just a crash โ 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 โ who's really in control?
