This week, OM (MANTRA) token experienced a sudden collapse, plunging over 90% in under an hour and wiping out billions in market value. While the team attributes the crash to forced liquidations on centralized exchanges, on-chain data reveals millions of OM tokens were transferred to exchanges by team-associated wallets prior to the drop — triggering widespread accusations of insider dumping.
To make matters worse, the project’s official community channels were briefly locked during the crisis, and responses from the team were delayed, causing a full-blown collapse in investor confidence. Although the founder later promised to burn hundreds of millions of tokens in an attempt to stabilize sentiment, the move was largely criticized as too little, too late.
As one analyst put it: “This isn’t just a liquidity issue — it’s a governance meltdown and an ethical crisis.”
Whether OM can recover from this trust implosion remains uncertain.
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