The OM Mantra cryptocurrency experienced a devastating 90% price drop in 24 hours, wiping out an estimated $3.5-4.5 billion in market capitalization.
This crash is attributed to allegations that the project team dumped their entire token allocation, potentially manipulating the market for over-the-counter (OTC) sales.
The incident has sparked outrage among investors, drawn comparisons to other major crypto collapses like Terra Luna, and prompted calls for legal action against the team. Show Less
