The formation and melting of a mono-layered charged dust particle crystal in a DC glow discharge Argon plasma is studied. The nature of the melting/formation process is established as a first order phase transition from the nature of the variations in the Coulomb coupling parameter, the dust temperature, the structural order parameter and from the existence of a hysteresis behavior. Our experimental results are distinctly different from existing theoretical predictions for 2D crystals based on the KTHNY mechanism or the Grain boundary induced melting and indicate a novel mechanism that is akin to a fluctuation induced first order phase transition that has not been observed before in complex plasmas.