MANTRA has halted its blockchain after an incident affecting its Cosmos EVM module, sending its native token to a brand new all-time low on August 21.
The workforce says two pockets addresses have been affected, no consumer funds have been exploited, and a patched launch is being examined earlier than a attainable community restart later immediately.
MANTRA Freezes Chain as It Checks a Repair
MANTRA initially stated it had halted the chain as a precaution whereas investigating an incident, with all endpoints and transactions frozen. Deposits and withdrawals to and from MANTRA Chain have been additionally briefly affected.
A standing replace later stated the community remained halted whereas builders ready and examined a remediation. Transactions, transfers and staking operations have been unavailable, though MANTRA stated consumer funds have been unaffected by the halt itself.
The workforce has since recognized the basis trigger, saying the incident was remoted to the Cosmos EVM module and affected two pockets addresses earlier than the risk was contained.
“No consumer funds have been exploited,” the workforce repeated.
Additionally they stated they’d taken a full community snapshot earlier than starting the restart course of. Its patched v8.4.0 launch addresses the underlying vulnerability and is being examined on the DuKong testnet, with the challenge concentrating on a coordinated mainnet improve and restart later within the day, supplied testing finishes cleanly.
Validators have additionally been informed to maintain their mainnet nodes offline till the restart is introduced.
The native token, previously often known as OM, now trades beneath the MANTRA ticker after the challenge accomplished a 1:4 non-dilutive redenomination and ticker change in March this 12 months, which means holders acquired 4 MANTRA tokens for every former OM token with out altering their general worth on the time of conversion.
After the chain was halted, the token plunged greater than 18%, going from about $0.0050 to $0.0041 to set a brand new all-time low.
Nonetheless, on the time of writing it had managed to claw again a few of that worth and was altering fingers close to $0.0046, which nonetheless put MANTRA about 82% under its March 4 all-time excessive of $0.02627.
OM Collapse Nonetheless Hangs Over MANTRA
Recall that OM fell from above $6 to under $1 in lower than an hour on April 14, 2025, wiping out roughly 90% of its market worth, with liquidations exceeding $70 million.
On the time, CEO John Patrick Mullin blamed the collapse on what he described as “reckless pressured closures” by centralized exchanges.
The fallout continued into January 2026, when MANTRA introduced workers cuts throughout a number of groups. The corporate stated its speedy enlargement via 2024 and early 2025 had left its price base too excessive after a tough market interval and the occasions surrounding the token’s collapse. Mullin additionally pledged to burn 300 million OM tokens after the April 2025 crash, with the burn accomplished later that month.
MANTRA says a full autopsy will observe. For now, the chain stays paused whereas the patched software program undergoes testing, leaving customers with restricted info past the workforce’s replace.
The put up MANTRA Freezes Blockchain After Cosmos EVM Incident as Token Hits New Low appeared first on CryptoPotato.