🔴On April 13, the OM token from the MANTRA project plummeted by over 90%, sparking panic across the market. Within a matter of hours, the price dropped from $6.13 to $0.45, and the project’s market capitalization plunged from $5.9 billion to $463 million. Liquidations exceeded $71 million, while official communication channels were shut down, further fueling investor suspicions.
🔴The developers blamed centralized exchanges for the crash, claiming that sharp liquidations during low-liquidity hours triggered the collapse. However, on-chain data and the actions of partners — including Laser Digital by Nomura — have led the community to suspect potential manipulation and opaque OTC deals.