On April 14th, OM coin plummeted nearly 90%, dropping from $5.75 to $0.37, with market value evaporating over $5.5 billion. The reason was that a whale withdrew 61.52 million OM tokens through 19 new wallets from Binance in 4 days, accounting for 3.4% of total supply, triggering panic. Two major wallets each withdrew 2.64 million tokens, totaling over $21 million. Adding to the crisis, MantraDAO was suspected of having potentially unlimited token issuance, severely diluting value, and having too few verification nodes, with high centralization risks. Market confidence collapsed, sparking a selling wave and massive long liquidations, exacerbating the decline.

Bitunix analysts suggested that the project's fundamentals have significant hidden dangers, with team reputation and token economic serious flaws yet to be repaired, and investors should maintain vigilance and risk control awareness, and must not chase highs or heavily position in a single high-risk token.