The crypto market experienced a dramatic shock with Mantra (OM) crashing 87% in under an hour on Sunday night, wiping out billions of dollars in value. The project’s price plummeted from $6.25 to just $0.79, affecting investors significantly. Despite the crash, Co-Founder JP Mullin maintains that centralized exchanges are responsible for the sudden price drop. He claims these exchanges initiated forceful liquidations of OM holders without proper warning, likely during low liquidity hours on Sunday evening. Mullin suggests this might have been a deliberate act by an exchange to exploit the chaos and gain profits. While his team insists there’s no fault in the project itself, they’ve been left questioning whether one specific CEX was involved. They remain committed to building the project but are still investigating potential culprits. The community will be updated through a public forum on X. The incident has highlighted the risks associated with volatile crypto markets and emphasizes the need for transparent regulatory frameworks.