#SecureYourAssets
Massive Price Crash: Around April 13th, 2025, the $OM token experienced a sudden and severe price collapse, dropping over 90% within hours. Its value reportedly plummeted from around $6-$6.50 to below $0.60, wiping out an estimated $5.5 billion in market capitalization.
* Rug Pull Suspicions vs. Forced Liquidations:
* Allegations: There are strong suspicions and allegations within the crypto community of a "rug pull" or a coordinated dump by insiders. Observers pointed to large amounts of $OM tokens (potentially linked to project investors or team members) being transferred to centralized exchanges shortly before the crash. Some sources also mention potentially suspicious changes to tokenomics and alleged manipulation of DAO votes prior to the event.
* MANTRA's Explanation: The MANTRA team and its co-founder have denied these allegations. They attribute the crash primarily to "reckless forced closures" and massive forced liquidations of large $OM positions by a centralized exchange (CEX), especially during a period of low market liquidity. They maintain that team tokens were not sold and remain locked according to their vesting schedules. Laser Digital, an investor implicated by some on-chain analysts, has also denied involvement.
* Role of Liquidity: Low liquidity seems to have played a critical role. When large sell orders hit the market (whether from alleged dumping or forced liquidations), there weren't enough buyers to absorb them without the price drastically falling, leading to a cascade effect.
* Current Situation (as of mid-April 2025):
* The price of $OM has seen a partial rebound from its lowest point but remains significantly down from its pre-crash levels.
* Exchanges have noted the event and flagged suspicious activities.
* The MANTRA team has stated they are investigating and promised a post-mortem report.
* The situation has drawn comparisons to previous major crypto collapses like LUNA, highlighting the risks involved.