The price of the Mantra token collapsed for over 90% in 24 hours

Update (4.13.2025 22:02:20): This article has been updated to obtain updates from the Mantra team

Mantra price (OMA) Token, the native cryptocurration of the Mantra real world of tokenized blockchain, has collapsed over 90% in the last 24 hours.

The Mantra is 13. April fell from a price of about $ 6.3 at below $ 0.50 and shed over 90% of her 6 billion dollar market.

Some traders characterized the collapse of tokens as an apparent carpet move. Market investor Gordon wrote: “(The) The team should deal with this or om appear to be able to refer to zero, pull the biggest prostor from Luna / FTX?”

However, the exact reason for collapsing the price of the token is not clear at the time of this writing. Coinderelegraph reached a team team for comment on the summary of the token, but did not receive a response until the moment of publication.

The incident follows several high profile decay and cyber-cyber cellability including Implosion libraries and the 1.4 billion bibita hackResponsible for billions of dollars in investor losses during the first few months of 2025.

Related: Mantra presented $ 108 million fund to return tokenization of property in the real world, definitely

Mantra team and co-founder react

Mantra Co-founder JP Mullin answered the summary of the token and said the project telegram is still online. Mullin added that the teams of the team Mantra are still in the custody of the team.

“We’re here and not go anywhere,” Mullin wrote in X mailWhile providing the Verification Address for the Token Mantra team.

Team Mantra also claimed that the implosion of prices of OM “launched reckless liquidations”, not related to the actions that the team took.

Recent tokenizations of mantra in the Middle East

In January 2025. year, Mantra and Investment conglomerate Damac signed a $ 1 billion agreement To play the diverse assets of conglomerate investment, which include real estate, data centers and other physical properties on Mantra Blockia.

Mantra Received a license for virtual providers of assets From the regulatory organ of virtual property in Dubai (Vara), in February 2025. years.

The license allows mantra to work as a digital goods provider in the United Arab Emirates (UAE), launches a CRIPTO exchange, broker-dealer services, management and investment consultations in the country of the Middle East.

The expansion of the Mantra prints in the United Arab Emirates encouraged high demand for tokenized products from investors and real estate developers New ways of financing projects and securing capital.

Time times of finality for tested actual assets, reduced costs, and cross-border functionality are just some of the reasons to provide investors for the use of blockaine to ensure investments and assistance in capital formation.

Journal: Secret billions of dollars: Insijderi responsible for hacks