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

According to Spot On Chain monitoring, the 19 wallets it previously tracked, which were suspected to belong to the same entity and were newly created in March, transferred 14.27 million OM (approximately $91 million) to OKX at an average price of $6.375 in the three days before the OM crash. As early as late March, they jointly purchased 84.15 million OMs from Binance at a cost of approximately $564.7 million (average price of $6.711). Now, after experiencing a plunge of about 90%, their remaining 69.08 million OMs are worth only $62.2 million - an estimated total loss of $406.3 million. However, they may have hedged their positions elsewhere and it is possible that it was they who exacerbated this sharp decline.