Crypto Trader Loses $17 Million in Mantra Token Crash

A prominent crypto investor recently experienced a significant financial loss after the price of the OM token, tied to the Mantra protocol, plummeted by nearly 90%. The investor initially invested approximately $18.7 million at an average price of $6.46 per token, securing a substantial position before the recent crash. Their holdings have now dwindled to just $1 million after transferring a significant portion of their holdings back to Binance. This loss amounts to roughly $17 million.