The Mantra OM crashes 90% in a strange sale of the sale when the team alleges ‘forced settlements’

Cryptographic merchants were agreed that Terra Luna at dawn on Monday since the modern active of the real world, Om Token de Mantra, fell 90% in a time without sudden catalyst, with theories and accusations of conspiracy that abounded between cryptographic circles.

OM submerged more than $ 6 by just over 40 cents on Sunday night until early in typically low liquidity hours for the cryptography market, where outstanding volumes can trigger massive price movements in any direction.

“We want to assure you that Mantra is fundamentally strong,” the team said in an X post after the fall in prices. “Today’s activity was caused by reckless liquidations, nothing to do with the project. One thing we want to be clear: this was not our team. We are investigating it and we will share more details about what happened as soon as we can.”

Mantra allows users to act assets of the real world (RWAS) as real estate and basic products, which allows compatible digital investments in tangible assets. Your Token OM facilitates transactions and governance.

In January 2025, Mantra associated with Damac Group, a conglomerate based in the EAU, to tokenize $ 1 billion in assets, including real estate centers, hospitality and data.

OM was one of the largest winners in the market in 2024, increasing more than 400% in a relatively low public conversation in social networks related to cryptographic, which intrigued merchants and investors equally about the strength of the measure.

Meanwhile, co -founder John Patrick Mullin claimed that the movement was probably due to exchanges that closed the OM positions, which affected all exposure to the market.

“We have determined that OM market movements were triggered by reckless forced closures initiated by centralized exchanges in OM accounts,” Mullin said in a post X. “The moment and the depth of the accident suggest that a very sudden closure of the account positions began without a sufficient warning or warning.”

In addition, he claimed “intentional positioning of the market taken by centralized exchanges.”

OM-TRACKED futures registered more than $ 50 million in liquidations on the long side, a record figure for tokens. The open interest fell from $ 345 million to just over $ 130 million, indicating a quick exit for unstable futures bets.

However, some prominent cryptographic voices do not buy that narrative, with dozens of derogatory responses under Mullin’s publications.

The founder of OKX, Star XU, added an answer to a separate publication that marked more than $ 220 million in Token deposits to exchanges before the price block.

“It is a great scandal for the entire cryptographic industry. All the unlocking and deposit data of Ochain are public, all the guarantee and liquidation data of all the main exchanges can be investigated. OKX will prepare all the reports,” Xu said.