The plunge in OM tokens has triggered a sharp fluctuation in the market, mainly due to the forced closing of token holders by centralized exchanges (CEX). According to MANTRA's official statement, the incident occurred during periods of low liquidity and did not give sufficient warnings, showing serious negligence in risk management or possible market manipulation by CEX. Before the plunge, multiple wallets transferred a large number of OM tokens to CEX in a short period of time, resulting in an imbalance in market supply and demand. In addition, whale investors' large-scale transfer of OM tokens a few days before the collapse caused greater market panic. This series of operations not only damaged the reputation of the project, but also caused many investors to face huge losses, with some investors suffering from floating losses of up to US$406 million. The market's confidence in OM has been hit hard, and the problems of insufficient liquidity and concentrated holdings have made investors cautious about the future. Judging from the future trend, the price of OM tokens may continue to be under pressure, especially in the absence of effective market supervision and transparency. Investors need to pay attention to how the MANTRA team responds to this crisis and how CEX improves when dealing with similar incidents. At the same time, the market may conduct a more in-depth review of the liquidity and holding structure of other tokens to avoid similar risks. Overall, the OM token incident reminds investors to remain vigilant in the crypto market and choose projects with high liquidity and transparency to invest.