The Crypto World saw a major setback when Om Coin Worth declined by about 90%. Due to this decline, the market cap of the token has also fallen rapidly. This phenomenon is a major setback not only for investors but also for the entire actual Global Asset (RWA) sector.
The biggest victim of this crash is a crypto trader named JB. Who claimed that he had invested $ 3.5 million (about ₹ 29 crore) in OM Coin, which has now come down to just $ 200,000 (about ₹ 1.6 crore). At the same time, the trader has made serious allegations by connecting the matter with the founder of Binance CZ and the current CEO Richard Teng.
JB says that he had invested in this project after doing full deliction. He also said, “I was convinced that Mantra (OM) of a major UAE Real Estate Company has a partnership, which makes this project valid and strong.
OM Coin team allegations of insider trading and liquidity exit
According to Crypto Market Experts, the main reason for this decline is believed by the Mantra team to transfer 3.9 million OM tokens to the Okx Exchange. This transfer has created an atmosphere of fear in the market, causing many big investors and potential investors to sell their tokens simultaneously. This sudden and fast Sailing affected the already weak liquidity market like a domino effect, causing the price to fall rapidly.
JB has accused the Binance CEO and the team of planning to withdraw the money in deliberately made. He claims that in this entire incident, some special people have offered a big profit, while the common investors have suffered a big loss.
JB has warned that if the issue is not resolved soon, it will take legal action through Burwick Law. He also said that, “I am going to raise this issue in a formal way through legal channels. My legal team will contact soon”.
Questions raised on the transparency of RWA sector
Real world assets are believed to increase transparency and validity by bringing traditional assets to blockchain. But such a dispute in big projects like Mantra can cause damage to the image of this entire sector.
JB and other investors are now demanding answers and transparency from Mantra’s team. In the coming days, it will be interesting to see in which direction this case goes, will investors get justice or will it become another crypto scam story?
Conclusion
Mantra (OM) Token Crash created a stir in the crypto market And this decline has made it clear that no matter how big or valid or valid seems to be a crypto project, it is very important to check caution, risk management and transparency before investment. The story of JB is a warning for thousands of investors who invest crores only on the basis of big partnership and marketing.
Now it will be seen whether any legal action is taken in this case and whether any control over such cases in Crypto space can be estimated or not.
