MANTRA’s OM Token Plummets 90%, Billions Wiped in Hours
- MANTRA’s OM token crashed by over 90% on April 13, wiping out more than US$6B in market value.
- The team blamed “reckless liquidations” by a large investor, but the community remains skeptical, pointing to insider control and past legal issues.
- The collapse comes amid MANTRA’s high-profile deals, including a US$1B tokenisation partnership with DAMAC and a new crypto license from Dubai’s VARA.
Another day, another billion-dollar crypto wipeout that puts this industry’s reputation at stake, I guess.
MANTRA’s native token, OM, cratered more than 90% within 24 hours on April 13, plummeting from US$6.3 (AU$10) to under US$0.50 (AU$0.80) and erasing over US$6B (AU$9.6B) in market value, according to…
