MANTRA’s native token sank 18.5% from its 24-hour excessive to a document low shortly earlier than MANTRA Chain stopped producing blocks and its workforce introduced a precautionary halt over an unexplained incident.
In keeping with CoinGecko, MANTRA fell from $0.005060 to an all-time low of $0.004126 round 11:00 pm UTC on Thursday. It later recovered to about $0.0044 however remained down roughly 10% over 24 hours, whereas buying and selling quantity climbed practically 600% to $24 million.
MANTRA mentioned Friday it was “conscious of an incident affecting MANTRA Chain” and had halted the community as a precaution whereas it investigated. “We don’t have a root trigger or timeline to share but,” the mission mentioned, including that each one endpoints and transactions had been frozen.
The halt prevents property from transferring on MANTRA Chain and has prompted affected exchanges to pause deposits and withdrawals, with no timeline given for both service to renew.
MANTRA’s 24-hour worth chart. Supply: CoinGecko
MANTRA Chain stays halted as investigation continues
MANTRA’s standing web page categorised the incident as a full outage affecting public endpoints, validators, bridge migration operations and MANTRA-managed Inter-Blockchain Communication relays. The workforce mentioned it will not restart the community till it was assured it was protected.
The community’s public RPC listed block 17,449,398, produced at 11:13 pm UTC on Thursday, as its newest block. MANTRA posted its preliminary incident discover at 11:44 pm, whereas CoinGecko confirmed the token reaching its low round 11:10 pm.
MANTRA has not mentioned whether or not the worth motion was associated to the incident or whether or not any property had been misplaced or positioned in danger.
Cointelegraph contacted the MANTRA workforce for extra info however didn’t obtain a response by publication.
Associated: Mantra says CEO has begun the method of burning his 150M OM tokens
The newest decline follows the April 2025 collapse of MANTRA’s former OM token, which plunged greater than 90% from about $6.30 to under $0.50 and erased greater than $5 billion in market worth.
In June, Inveniam Capital Companions introduced plans to accumulate MANTRA after investing $20 million within the mission in 2025. The acquisition adopted January layoffs and restructuring after CEO John Patrick Mullin described 2025 because the mission’s most difficult yr.
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