đš$OM Plunges 90% in Under an Hour
Over $5.5 billion in market cap vanished almost instantly.
What went down:
âą Reports indicate the Kabal team abandoned the project right before the collapse.
âą Nearly $590 million worth of $OM was transferred to exchanges shortly afterâtriggering a massive sell-off.
âą Rumors suggest insiders controlled 90% of the token supply.
âą Airdrop recipients were wiped out.
âą Long-term holders are now stuck with the losses.
No transparency. No safeguards. Just a massive insider dump.
Many influencers hyped the project, claiming Binance was backing the team.
Takeaway:
If something feels off, it probably is.
Protect your capital. Hype is not due diligence.
Over $5.5 billion in market cap vanished almost instantly.
What went down:
âą Reports indicate the Kabal team abandoned the project right before the collapse.
âą Nearly $590 million worth of $OM was transferred to exchanges shortly afterâtriggering a massive sell-off.
âą Rumors suggest insiders controlled 90% of the token supply.
âą Airdrop recipients were wiped out.
âą Long-term holders are now stuck with the losses.
No transparency. No safeguards. Just a massive insider dump.
Many influencers hyped the project, claiming Binance was backing the team.
Takeaway:
If something feels off, it probably is.
Protect your capital. Hype is not due diligence.