About a moon’s turn ago, a certain prodigious investor—one might say a leviathan of finance—did procure a rather substantial number of OM tokens upon the celebrated exchange known as Binance: a sum totalling 2.9 million, at the princely average of $6.46 per token, investing near an extravagant $18.7 million. Quite the affair, indeed!
Alas, in a most unfortunate and dramatic twist, the same wallet undertook the transfer of 1.72 million tokens—now valued at the modest sum of merely $1 million—back unto Binance this very day, a most glaring signal of retreat and despair. One calculates, with no small degree of sympathy, that the poor wallet’s losses approach the staggering figure of $17 million.
The value of OM hath tumbled by nearly ninety percent, a decline brought about by rather unsavory accusations of market manipulation which did bleed no less than $5 billion from the token’s once stout market cap. The gentlemen in question have a somewhat notorious past, being culpable in the scandal surrounding the REEF token, and are now found wanting once more, fingered as the villains behind OM’s lamentable collapse.
In the days preceding this calamity, these same characters are said to have endeavoured to secure copious loans, wielding OM as their collateral—an effort made upon several lending platforms. One must suspect that fortune was less cooperative than anticipated.
Meanwhile, the on-chain detective, Master ZachXBT, pursues his investigations with the discretion of a well-trained governess, refraining from any declarations on whether the Mantra development coterie possessed prior knowledge of this villainy. How very mysterious! 🙃
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2025-04-22 05:38