The cryptocurrency token OM, associated with the Mantra project, experienced a dramatic price crash, losing nearly 90% of its value in a single day. The event sent shockwaves through the crypto community as traders were left facing substantial losses and speculation about potential foul play ensued. 2025 saw heightened tensions between Mantra’s CEO, JP Mullin, and Binance, one of the leading cryptocurrency exchanges. 2025 saw the exchange issue a statement stating that they were aware of the OM volatility and attributed it to cross-exchange liquidations, implementing risk control measures since October. Despite earlier accusations of negligence, Mullin expressed his gratitude for Binance’s communication during the crisis, suggesting that further cooperation was occurring between the two parties.