TechFlow news, April 14 — Investor Shorooq Partners issued a statement clarifying that the price drop was not due to a hack or team dumping, but triggered by large-scale forced liquidations, which subsequently led to panic selling during a period of low liquidity. Shorooq emphasized its unchanged position as a long-term equity investor and disclosed relevant wallet addresses to demonstrate transparency. Some analysts pointed out that the crash resulted from changes in leverage requirements and levels, exacerbated by the lack of decentralized exchange market makers.
Earlier reports indicated that prior to the sharp decline in OM's token price, a wallet belonging to a partner at Middle Eastern investment firm Shorooq Partners reportedly received a transfer of 2 million OM tokens.
