Shorooq clarifies: OM's decline was not caused by a hacker attack or team selling

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MarsBit
04-14
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Mars Finance News: Investment firm Shorooq Partners issued a statement clarifying that the decline was not due to a hacker attack or team sell-off, but was triggered by large-scale forced liquidation, followed by panic selling during a low liquidity period. Shorooq emphasized that its position as a long-term equity investor remains unchanged and publicly disclosed relevant wallet addresses to demonstrate transparency. Analysts pointed out that this crash was caused by leverage requirements and forced changes in levels, and the lack of decentralized exchange market makers exacerbated the problem. Previously, before the significant drop in OM's price, the partner wallet of Shorooq Partners, a suspected Middle Eastern investment institution, reportedly received a transfer of 2 million OM tokens.

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