Here’s How Crypto Traders Lost $400M With Mantra (OM) Massive Price Crash

14 Apr, 2025

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Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.

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Here's How Crypto Traders Lost $400M With Mantra (OM) Massive Price Crash

Mantra Price Crash Pushed Crypto Traders Into $400M Loss

Amid the crypto market’s high volatility due to the US- China war, the Mantra price crash left investors with massive losses. This includes a group of 19 fresh crypto wallets or traders who moved 14.27M OM equivalent to $91M just three days before the crash.

Spotonchain X’s post revealed that these investors have scooped a massive OM tokens holding, i.e., 84.15M ($564.7M) from Binance just three days ago. Now, with the OM price crash, their remaining 69.08M OM are worth only $62.2M, leaving them in a staggering $406.3M loss.

Interestingly, crypto experts also anticipate that these investors could have contributed to the crash.

Forced Liquidation Led to Mantra Price Crash

The Mantra price crash has resulted in wiping out nearly $6 billion from the crypto market. Crypto experts like StarPlatinum have compared it to the LUNA crash, which affected the entire market. In a detailed analysis, StarPlatinum revealed that the crypto whales, failed Mantra airdrop, and investors’ panic resulted in the crash.

The Mantra co-founder John Patrick Mullin and the team clarified that forced liquidators from OM crypto investors on centralized exchanges resulted in the crash. More importantly, he clarified that the team is not behind the crash.

To be clear, this dislocation was not caused by the team, the MANTRA Chain Association, its core advisors, or MANTRA’s investors selling tokens. Tokens remain locked and subject to the published vesting periods. OM’s tokenomics remain intact, as shared last week in our latest token report. Our token wallet addresses are online and visible.

A Lookonchain post also brought clarity to the situation, revealing that 17 crypto traders deposited nearly 4.5% of the OM’s circulating supply, equivalent to 227M participating in the crash.

At the time of writing, the OM token price is still down, trading at $0.8 with a market capitalization of $761.45M. Investors are now eyeing the experts’ Mantra predictions to witness recovery.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Frequently Asked Questions (FAQs)

1. Why did the Mantra price crash?

The Mantra team reveals that the mass liquidation of the token on centralized exchanges resulted in the Mantra price crash. Experts add that investors' losing trust in this token also played a role.

2. How is Mantra (OM) token trading today?

After a nearly 90% loss, OM is trading at $0.8 with a market capitalization of $761.45M.

3. Will the crypto traders succeed in recovering their losses after this loss?

The experts compare the Mantra price crash to the LUNA incident before anticipating a struggling recovery battle.

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crypto crash

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.