The Mantra (OM) token experienced a dramatic collapse over the weekend, plummeting from $6.31 to $0.70 within an hour. This sharp drop triggered widespread concerns in the crypto community. Binance, a leading global cryptocurrency exchange, responded by explaining that the price crash was caused by cross-exchange liquidations, with high leverage and rapid selloffs across platforms leading to the sudden drop. Binance previously issued warnings about OM’s tokenomics in January, introducing alerts to notify users of potential risks. 74.52 million USD in liquidation occurred within 24 hours, surpassing Ethereum’s volume. The significant losses raised suspicions about centralized exchanges and led to accusations. It was later revealed that personnel connected with Mantra control approximately 90% of the token supply. Binance stated it is actively monitoring the situation without commenting on supply issues. The incident highlights growing concerns about scams in the crypto market, which are being intensified by fraudulent activities using AI-generated content. Binance continues to implement measures like advanced security systems and risk controls to combat these challenges.