Crypto’s Fresh $5 Billion Disaster
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THE OM COLLAPSE
Just last week, Mantra’s OM token looked great: up over 800% year‑on‑year, a fresh $108 million ecosystem fund and a $1 billion Dubai real‑estate deal (Mantra is a blockchain for tokenizing physical assets like buildings and art) in the pipeline. Then, over last Sunday, its price cratered more than 90% from around $6.3 to below $0.5, erasing over $5.4 billion in value and sending traders hunting for villains.
The problem wasn’t a clever exploit. Blockchain analysts flagged 17 wallets moving 43.6 million OM (about $227 million) to exchanges Binance…
