MANTRA’s native token plunged 18.5% from its 24-hour high to an all-time low on Thursday, shortly before MANTRA Chain stopped producing blocks and the team announced a precautionary halt over an unexplained incident. The network’s status page classified the event as a full outage, prompting several exchanges to suspend deposits and withdrawals for the token.
Price drop and network halt
According to CoinGecko data, MANTRA fell from $0.005060 to a record low of $0.004126 around 11:00 pm UTC on Thursday. The token later recovered to approximately $0.0044, but remained down roughly 10% over 24 hours. Trading volume surged nearly 600% to $24 million during the sell-off, reflecting heightened market anxiety.
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MANTRA said Friday that it was “aware of an incident affecting MANTRA Chain” and had halted the network as a precaution while investigating. “We don’t have a root cause or timeline to share yet,” the project stated, adding that all endpoints and transactions were frozen. The halt prevents assets from moving on MANTRA Chain, and affected exchanges have paused deposits and withdrawals, with no timeline for resumption.
Investigation and current status
MANTRA’s status page listed the incident as a full outage affecting public endpoints, validators, bridge migration operations, and MANTRA-managed Inter-Blockchain Communication relays. The team said it would not restart the network until it was confident it was safe. The network’s public RPC showed block 17,449,398, produced at 11:13 pm UTC on Thursday, as its latest block. MANTRA posted its initial incident notice at 11:44 pm, while CoinGecko indicated the token reached its low around 11:10 pm — just before the halt was publicly announced.
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MANTRA has not yet clarified whether the price movement was directly related to the incident or whether any assets were lost or placed at risk. Cointelegraph contacted the MANTRA team for additional information but did not receive a response by publication time.
Context: A history of volatility
The latest decline follows the April 2025 collapse of MANTRA’s former OM token, which plunged more than 90% from about $6.30 to below $0.50, erasing over $5 billion in market value. In June, Inveniam Capital Partners announced plans to acquire MANTRA after investing $20 million in the project in 2025. The acquisition followed January layoffs and restructuring, with CEO John Patrick Mullin describing 2025 as the project’s most challenging year.
Why this matters
This incident underscores the operational risks inherent in blockchain networks, particularly when a halt freezes all transactions and triggers exchange suspensions. For MANTRA holders, the immediate concern is the uncertainty around the network’s restart and whether any funds are at risk. The broader market impact is limited so far, but the episode highlights how quickly sentiment can shift when a network’s reliability is called into question.
Conclusion
MANTRA Chain remains halted as the team investigates the incident, with no clear timeline for resolution. The token’s record low and the exchange suspensions reflect the market’s cautious reaction. Investors and users should monitor official updates from MANTRA and affected exchanges for further developments.
FAQs
Q1: What caused the MANTRA Chain halt?
The exact cause has not been identified. MANTRA said it was “aware of an incident” and halted the network as a precaution while investigating. No root cause or timeline has been shared yet.
Q2: Are my funds safe on MANTRA Chain?
MANTRA has not confirmed whether any assets were lost or placed at risk. The network is frozen, and exchanges have paused deposits and withdrawals. Users should wait for official updates from the team.
Q3: When will MANTRA Chain resume operations?
There is no confirmed timeline. MANTRA stated it would not restart the network until it is confident it is safe. Affected exchanges have not provided a resumption date either.
This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile and uncertain; always conduct your own research before making any investment decisions.
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