The Mantra token (OM) fell over 90% in just one hour on April 14, 2025, collapsing from nearly $6 to below $0.4, erasing billions in market value. Co-founder John Patrick Mullin attributed the crash to forced liquidations by exchanges during a period of low liquidity, claiming positions were closed without warning. The incident raises concerns regarding the practices of centralized exchanges and the stability of real-world asset (RWA) tokens. Mantra's team denied claims of insider wrongdoing or a rug pull, emphasizing that their token allocation remains locked. Following the crash, the token showed a slight recovery to around $0.8, but is still significantly down from its February high of $8.99. The incident potentially threatens Mantra's partnerships with major organizations, including Google Cloud and DAMAC Group, and reflects broader issues in the RWA sector that could affect investor trust and market confidence.

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