The flash crash of OM caused countless people to lose everything overnight!!!
In just 1 hour, it plummeted 95%, and the familiar script is playing out again—"divine currency" that surged hundreds of times.
It finally ended in a free fall, reminding me of LUNA in 2021.
It also brings to mind those gamblers who lost everything on coins like TRB and GMT.
As a survivor who accurately shorted this type of coin twice, I want to share three lessons learned with real money:
Did you understand the "death signals" when the project team ran away?
There were early warnings before OM's collapse: on March 18, 5.4 million tokens were unlocked, the community TG was suddenly disbanded, and the team remained silent for a long time... These details were selectively ignored during the bull market frenzy.
Did you think a 90% drop would yield a 90-fold profit? The reality is:
Binance suddenly reduces leverage before a crash (OM was cut from 20x to 5x).
When liquidity is exhausted, short positions cannot be closed at all.
The exchange's "automatic reduction mechanism" will forcibly take away your profits.
Retail investors die from the "three major illusions":
"Dubai consortium endorsement"
"An 80% drop must be oversold"
"Holding the position will always break even"
Remember: in the crypto circle, every pit you avoid is at the cost of someone else's bankruptcy.
