Mantra Token (OM) Plummets Over 90% in 24 Hours Amid Rug Pull Fears

The native cryptocurrency of the Mantra real-world tokenized asset blockchain, represented by OM, experienced a dramatic collapse, falling from about $6.3 to below $0.50 in just 24 hours. This drop wiped out over 90% of its $6 billion market cap, triggering widespread alarm among investors. Accusations of a potential rug pull have surfaced, with market participants drawing comparisons to past incidents like LUNA and FTX. An investor, Gordon, warned that unless the Mantra team intervenes, OM's value could continue spiraling to zero. As this situation continues to evolve, further details are awaited to better understand the full impact of this drastic price movement on investor confidence.