OM令牌價格掙扎在0.70美元以下，因為90％倒塌的混亂

Mantra的OM令牌目前徘徊在0.64美元以上，在過去24小時內下降了8.5％以上，因為該項目繼續與該項目抗衡

Mantra's OM token price is currently struggling below the $0.70 level as the project continues to grapple with the chaos of a 90% collapse that saw billions of dollars in market capitalization evaporate.

由於該項目繼續努力應對90％倒塌的混亂，目前，Mantra的OM代幣價格目前正掙扎於0.70美元的水平低於0.70美元的水平，這使數十億美元的市值蒸發了。

What Happened: The disaster unfolded on April 13 between 18:00 and 20:00 UTC as OM's price fell from $5.52 to as low as $0.52 without any apparent reason. Social media buzzed with theories ranging from exchange manipulation to rug pull claims.

發生的事情是：災難於4月13日在18:00至20:00 UTC之間展開，因為OM的價格從5.52美元下降到低至0.52美元，沒有任何明顯的原因。社交媒體嗡嗡作響，理論從交換操作到地毯拉力索賠。

As fear grew, Mantra CEO John Patrick Mullin said in a statement that "reckless forced closures initiated by centralized exchanges on OM account holders" caused the catastrophe.

隨著恐懼的成長，曼特拉首席執行官約翰·帕特里克·穆林（John Patrick Mullin）在一份聲明中說，“由OM帳戶持有人集中式交流發起的魯ck封閉”造成了災難。

"The timing of this event, during low-liquidity hours on a Sunday evening, speaks to a degree of negligence at least, or possibly intentional market positioning taken by centralized exchanges," Mullin stated.

穆林說：“在周日晚上的低流動性時間裡，這一事件的時間至少在某種程度上說了一定程度的疏忽，或者可能是在集中交易所進行的故意市場定位。”

On-Chain Analysis: Single Trader Might Have Controlled Crash

鏈分析：單人交易者可能控制了崩潰

New blockchain research points to one trader who might have been able to control the crash. Reports indicate that the first trigger was likely a $1 million short bet on Binance's perpetuals market, resulting in more than 5% slippage "in literal microseconds."

新的區塊鏈研究表明，一位可能能夠控制崩潰的交易者。報告表明，第一個觸發因素可能是對Binance的永久市場的100萬美元押注，導致5％以上的滑倒“在微秒中”。

This trader reportedly kept dumping short positions at five-second intervals, triggering a chain reaction on other exchanges.

據報導，這個交易者一直以五秒鐘的間隔傾倒短缺，從而在其他交流上引發了連鎖反應。

Later, blockchain tracker Lookonchain found 17 accounts where 43.6 million OM tokens, valued at approximately $227 million, had been deposited into Binance and OKX prior to the crash, fueling speculation about insider trading.

後來，區塊鏈跟踪器Lookonchain發現了17個帳戶，其中4,360萬個OM令牌價值約為2.27億美元，已在墜機發生前存放到Binance和OKX中，這加劇了人們對內幕交易的猜測。

Mantra's Liquidity Illusion Exposed

咒語的流動性幻想暴露

Industry analysts believe that Mantra and related market builders might have inflated OM token liquidity numbers by utilizing weaknesses in the self-reporting systems of data aggregators.

行業分析師認為，咒語及相關市場建設者可能通過利用數據聚合器的自我報告系統中的弱點來使OM代幣流動性數量膨脹。

"This was a token that appeared to be a top-25 asset by market capitalization despite less than 1% of the token supply being genuinely liquid," stated on-chain observers during a discussion on The Chopping Block podcast.

“這是一個代幣，儘管不到1％的代幣供應是真正的流動性，但似乎是市場資本化的前25年，”鏈上觀察員在有關斬波塊播客的討論中說。

"This involved misrepresenting circulating supply and trading volume to create the appearance of broader market activity." The implication is that the artificially maintained liquidity withered away when a large holder attempted to sell.

“這涉及歪曲循環供應和交易量，以創造更廣泛的市場活動的外觀。”這意味著當大型持有人試圖出售時，人為維持的流動性枯萎了。

Early Warning Signs Ignored

預警信號被忽略

Three days before the disaster, hedgeye digital assets specialist Ishmael Asad warned Mantra about vulnerabilities.

災難發生前三天，Hedgeye Digital Assets專家Ishmael Asad警告口頭禪有關漏洞。

Asad noted how Mantra had silently quadrupled its token supply after migrating from Ethereum to its own L1 chain, highlighting concerning tokenomics as early as November 2024.

阿薩德（Asad）指出，咒語是如何從以太坊遷移到其自己的L1鏈後默默地靜靜地將其代幣供應量增加了，最早早在2024年11月就強調了有關令牌瘤的供應。

"They literally doubled the supply," Asad said in a post-crash interview with Coinage. "And out of that new supply... they kept a major chunk of that as well for core contributors, seed funding and ecosystem development grants."

阿薩德在對Coinage的爆炸後採訪中說：“他們的供應實際上使供應增加了一倍。” “從新的供應中……他們也為核心貢獻者，種子資金和生態系統發展贈款保留了其中的很大一部分。”

Both the Mantra community and Mullin responded to Asad's warnings with amusement.

咒語社區和穆林都以娛樂的方式回應了阿薩德的警告。

"I was definitely caught off guard by the hahas in front of all of his responses and sort of just the sheer arrogance," Asad added.

阿薩德補充說：“在他的所有回應和純粹的傲慢方面，我肯定會措手不及。”

Mantra (OM) Recovery Plans Unclear

咒語（OM）恢復計劃不清楚

Since then, Mantra has released a "statement of events," emphasizing that all team allocations remain frozen and no project-led token sales had taken place.

從那時起，Mantra發布了“事件陳述”，強調所有團隊分配仍然凍結，並且沒有進行項目主導的代幣銷售。

While the team has mentioned plans for a token buyback and burn program, they have provided minimal details about the timing or execution.

儘管團隊已經提到了代幣回購和燃燒計劃的計劃，但他們提供了有關時機或執行的最小詳細信息。

Beginning with his personal allocation, Mullin stated that he would burn all of his team's tokens. Additionally, an unidentified blockchain analyst is allegedly involved in the initiative to examine the fundamental cause of the disaster.

從他的個人分配開始，穆林說他會燃燒所有團隊的代幣。此外，據稱一位身份不明的區塊鏈分析師參與了該計劃，以研究災難的基本原因。

Industry Implications and Proposed Solutions

行業含義和建議的解決方案

The OM crash has sparked fresh discussion about the fragility of crypto assets with artificially generated liquidity.

OM崩潰引發了有關加密資產具有人工流動性的脆弱性的新討論。

Noting the implications of token concentration and opaque governance, Bitget CEO Gracy Chen highlighted that the meltdown "exposed several critical issues" within the industry.

Bitget首席執行官Gracy Chen注意到令牌集中和不透明治理的含義，強調了崩潰在行業內“暴露了幾個關鍵問題”。

Industry leaders have proposed various solutions to prevent such events, including mandating disclosure of all market-making agreements as a requirement for listing tokens on major exchanges and applying increased scrutiny of token distribution claims.

行業領導者提出了各種解決方案，以防止此類事件，包括要求披露所有營銷協議，以此作為在大型交易所上市代幣的要求，並對代幣分銷索賠進行了越來越多的審查。

Many observers remain skeptical about Mantra's chances for recovery as it seeks to rebuild its reputation.

許多觀察者對咒語的康復機會仍然持懷疑態度，因為它試圖重建其聲譽。

Asad stated, "I personally would stay away from this one because of permanent reputation damage, but maybe at this current price it’s more fitting to what’s actually happening on the chain. But at $9, that was [too early] and it was not justified."

阿薩德（Asad）表示：“由於永久聲譽損失，我個人會遠離這一問題，但也許以這種目前的價格，這更適合鏈條上實際發生的事情。但是，在9美元的價格（太早）的價格為9美元，這是沒有道理的。”

See More: Top 5 DeFi Tokens To Watch In April 2025

查看更多：2025年4月觀看的前5個Defi令牌

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