We all know by now that Mantra just crashed by 90% in under an hour. The rapid pace at which the token dropped its prices suggests something sinister. Binance suggests that this is part of the process and is primarily caused by cross-liquidation. However, the general populace believes this is not a run-of-the-mill price correction.
The co-founder of X said that this crash was due to forced liquidation on Binance. The speculation is backed by circumstantial evidence as well. The token was on a bullish run at first. However, the run came to a screeching halt, and the token lost its innate value.
The crash is popularly called “Black Sunday.” In a matter of one hour, billions of dollars worth of tokens vanished. This is why the incident raises crucial questions about the security of the landscape.
Guys let's get a couple things straight:
— JP Mullin (🕉, 🏘️) (@jp_mullin888) April 13, 2025
– The TG was not deleted.
– The Team tokens all remain in custody, verifiable at this address – mantra1yejpacug78zuqkzwwuc94c0a2al4mz4yfqquam
– We are actively figuring out why these massive forced liquidations occurred and will provide…
As soon as the crash happened, people inferred that it was purely due to internal sabotage. They suggested that the team dumped the asset to push the price down, which led them to believe that this was part of a premeditated plot.
However, the Co-founder of MANTRA has denied these allegations. He took to the social media to state his case: “We have determined that the OM market movements were triggered by reckless forced liquidations initiated by centralized exchanges on OM account holders. The timing and depth of the crash suggest a sudden closure of account positions without sufficient warning or notice.”
Not good enough – we need tangible action! The least you can do is prevent the price dropping any further.
— Chad DNA (@thebullishchad) April 14, 2025
The price has continually dropped even after all your acknowledgements and alleged investigations.
Stabilise the price here, it’s already over -90%!$OM @MANTRA_Chain
He even added that the team is investigating the matter and hopes to find the real cause of the crash. Therefore, some investors are holding out hope that things will eventually turn for the better.
