The cryptocurrency market has experienced a shock wave as the Real World Assets (RWA)-based Mantra (OM) coin has suffered an unprecedented drop, plummeting over 90% in a short time frame. This sudden collapse has sparked concerns and finger-pointing towards Binance, which released a detailed explanation on social media regarding the event’s circumstances. Binance attributed the dramatic decline to liquidations triggered by leveraged trading on both platforms. In just one hour, the coin’s price dropped from $6.31 to a mere $0.70, leading to over $74.5 million in liquidations within 24 hours, exceeding those of Ethereum (ETH). Binance assured users that it is closely monitoring the situation and will implement necessary measures to ensure user protection.