- $OM plunged over 80 percent after suspicious wallet activity and insider deal allegations rattled investor confidence and market trust.
- Major $OM backer JB lost millions and accused MANTRA of insider enrichment and promoting false partnerships to lure investors.
- Exchanges flagged $OM’s unstable tokenomics as risk escalated, prompting emergency measures and warnings of extreme volatility.
The MANTRA ($OM) token has seen unprecedented volatility following a sharp price collapse on April 14, 2025. The decline started at around 2:28:32 AM (UTC+8) and wiped out over 80% of the token’s value across key centralized exchanges. This dramatic fall marked a critical turning point for $OM, which had previously experienced gains since November 2024. However, the crash has now sparked serious questions about the project’s transparency, internal dealings, and its real-world asset (RWA) narrative.
Besides the sudden price plunge, blockchain analysts observed large-scale wallet activity before the event. Notably, Lookonchain reported that a dormant wallet transferred 2 million $OM—worth $12.58 million—five hours before the crash. The destination wallet may be tied to Shane Shin, a known public supporter of $OM. Today, that same $OM is valued at only $1.57 million. This timing has raised fresh speculation around possible insider movements and unannounced OTC deals that may have triggered the collapse.
Consequently, major investors have begun to voice serious concerns. One investor, known as JB on X, claimed he invested $3.5 million into $OM. That investment is now valued at under $200,000. JB accused MANTRA of promoting a misleading partnership with a UAE real estate firm, which influenced his decision. Moreover, he suggested that investor capital was siphoned to insiders instead of building the RWA ecosystem. JB has warned of legal action and confirmed that Burwick Law will handle his case.
Tokenomics Shifts and Exchange Alerts
Additionally, internal investigations and on-chain data reveal changes to the tokenomics model since October 2024. Exchanges noticed abnormal trading behavior, with large, coordinated deposits and withdrawals surfacing in March 2025. Hence, several platforms, including OKX, have adjusted their risk parameters to limit user exposure. They also issued warnings about increased volatility due to ongoing changes in token supply.
These developments cast a shadow over the RWA narrative surrounding $OM. Investors now face amplified risk amid allegations of insider deals and token mismanagement. Furthermore, the event underlines the urgent need for accountability and transparency in crypto projects positioning themselves at the intersection of DeFi and real-world assets.
