April 13, 2025 — In a shocking turn of events, MANTRA (OM), a popular RWA cryptocurrency project, experienced a catastrophic price crash, plummeting more than 98% in just minutes.
Unprecedented Market Collapse
On April 13, the price of OM dropped sharply from approximately $6.09 to as low as $0.37, wiping out over $6 billion in market capitalization within a single hour. This sudden and extreme volatility caught the attention of the entire crypto community.
Insider Dumping Allegations
The crash sparked widespread accusations on social media and forums that a group referred to as the “Kabal team”—allegedly linked to MANTRA insiders—had offloaded a massive volume of tokens in a coordinated sale. These accusations fueled fears of a rug pull, leading to further panic-selling from retail investors.
Official Response
In response to the allegations, the MANTRA development team publicly denied any involvement in the sell-off. They released a statement claiming they had not engaged in any large-scale token sales and are investigating the incident further.
“We did not initiate any dump. We are looking into the situation and will update the community as soon as we know more,” the team stated.
What’s Next for OM?
With investor confidence rattled, the future of MANTRA remains uncertain. Market analysts are calling for transparency from the team and an immediate audit of token allocations and insider wallets. Regulatory scrutiny may also follow, given the scale of the drop and suspicions around insider trading.
Community Reaction
The crypto community has responded with outrage, demanding accountability and clearer governance from the project. Many users on X and Telegram groups have called for mass withdrawal and legal action if wrongdoing is proven.
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