Mantra Mystery - Anyone Know What’s Going On?

This is a T100 project that just lost >$6B market cap in the last 60 minutes.

I’m out of the loop here…what happened? From a glance this project’s purpose is to support RWAs (real world assets). So that follows the concept of tokens / chain assets correlating with some real world security or tangible item of value.

Extrapolating here…one would imagine a project like this would only start crashing to 0 if some sort of information got leaked out indicating the tokenized assets issued by this chain were not in fact actually backed by RWAs.

Again, this is a theory. I don’t know yet. If you do though - comment please! (preferably with some sources or means of substantiating your response)