MANTRA's OM Token Crashes 90% Amid Insider Sell-Off Allegations
The MANTRA crypto project is embroiled in controversy after its OM token crashed 90% on Sunday, with investors alleging an insider dumped its holdings, wiping out an estimated $5 billion in market value.
MANTRA, known for tokenizing real-world assets (RWAs) and its partnerships with Google Cloud and Dubai’s DAMAC Group, saw its OM token plummet from above $6 to $0.37 in under 24 hours. The token, which peaked at $9 earlier in 2025, now trades around $1.03 as of 7:40 p.m. EDT. Social media posts claim the team or an associated market maker sold 90% of circulating tokens, though MANTRA denies involvement.
The crash, one of crypto’s steepest single-day drops, sparked accusations of market manipulation. Critics allege the team or an insider offloaded tokens over-the-counter (OTC) and deleted MANTRA’s Telegram group, severing investor communication. Social media erupted with fraud comparisons to Terra Luna’s 2022 collapse.
