OKX Investigates Flash Crash of OM Token, Market Repercussions Emerge

The cryptocurrency exchange OKX is currently investigating a dramatic 90% crash in the value of the OM token. CEO Star Xu has labeled the incident as a major scandal and committed to releasing detailed reports detailing the cause. The sudden drop wiped out an estimated $5.5 billion from the market, leaving investors scrambling for answers. While forced liquidations likely played a role, the exact trigger remains unclear. 100% of market participants are calling for more transparency in the exchange and potential regulatory intervention to prevent future crashes.