Bynance and OCCS react at OM fall

The main cropto exchange such as bynance and OCCS reacted to a recent price drop, providing users to enter the situation and report their findings.

14. April Day After the Mantra Token Market suffered a loss of $ 5.5 billion due to market instability, Stage He issued a statement through accounts for customer support to the stock exchange on X, responding to a recent decline.

According to a recent mailThe original findings of the institutions reveal that the decline in the price was a consequence of a series of truss liquidations that occurred over the last day.

In the light of the volatile state of tokens, the stage confirmed that he had attached the pop-up warning for OM (OMA) Token spot trading since January 2025, which informed users that the Mantra token saw “significant changes” in its tokenomic, indicated by increasing the token supply.

“We remain dedicated to carefully monitor the situation and we will continue to take appropriate actions to protect our customers and keep the integrity of our platform.” Help for the binance helped.

At the time of pressure, the Mantra token is experienced A close drop of 90% in the last 24 hours. His market cap amounts to $ 764 million, falls to a high 6 billion dollars. The token currently trades with hands to $ 0.79, from 91% of the earlier all the previous all times of $ 8.99 from last February.

In addition, binance also stated that since October last year, it reduced the levels of leverage levels for the token since October last year. Despite this fact, many traders in the comment section criticized the exchange that there would be no token before the incident came.

On the other hand, Ok The entire star was considered a pappa price “big scandal in the entire crypto industry”. The star also reassured the CRIPTO exchange to prepare reports based on the incident, as all information is available on the chain.

“All data for unlock and deposit in the chain are public, all large data exchange and liquidation data can be investigated. The OCCS will make all reports ready!” The storage specified in a recent mail.

On the chain data Of Criptoninjas, it revealed that 127 million OM or 13% of the circulating supply of tokone was withdrawn from the bineness in the last month. Meanwhile, the OCKS saw almost 70 million token deposits, which was more than 50% of the amount drawn from Biannci.

What happened to OM?

Last weekend, Om experienced The main price decline for 90%, which falls from $ 6.30 to below $ 0.50 ranging from just a few hours. Chief Executive Director of Mantra JP Mullin alleged That OM recent price decline was the result of “reckless forced closing traversed by centralized exchange at OM account owners.”

Mullin claimed that the sale was not a consequence of the sales of tokens or the internal team or investors, stating that the tokens remain under marriage based on the project time bar.

“Centralized exchange partners play an important role in providing liquidity to projects like ours. We work closely with them, but still exercise extremely high levels of discretion,” Mullin said.

However, analysts appear to be in the chain disagree, with many stating that the sale began when 3.9 million OC was deposited on the OCCS by the Mantra team. Cripto analyst Max Brown said The team allegedly has almost 90% of the total supplies of the token, which launched a market sales that has led to the token to lose $ 5.5 billion market caps in the market.