An entity is suspected of transferring 14.27 million OM to OKX through 19 wallets within 3 days before the OM crash

ChainCatcher news, according to Spot On Chain monitoring, the 19 wallets suspected to belong to the same entity, which were newly created in March, transferred 14.27 million OM (approximately 91 million USD) to OKX at an average price of 6.375 USD within 3 days before the OM crash. As early as late March, they collectively purchased 84.15 million OM from Binance, spending approximately 564.7 million USD (average price of 6.711 USD).

Now, after experiencing a drop of about 90%, their remaining 69.08 million OM is worth only 62.2 million USD—estimating their total loss to be as high as 406.3 million USD. However, they may have hedged their positions elsewhere, and it is possible that they exacerbated this crash.