The token of MANTRA, a blockchain focused on putting traditional financial assets such as funds and bonds onchain, plunged 18.5% to a record low shortly before the network stopped producing blocks and was halted following a software exploit.
MANTRA fell from $0.005060 to an all-time low of $0.004126 around 11:10 p.m. UTC Thursday, according to CoinGecko. It later recovered to about $0.0044 but remained down roughly 10% over 24 hours, while trading volume jumped nearly 600% to $24 million.
The network produced its last recorded block at about 11:13 p.m. UTC, minutes after the token touched its low. MANTRA announced the halt roughly half an hour later in an X post.
The project has not said whether the price drop was connected to the attack, though security incidents can trigger outsized moves as traders rapidly reassess the risk of holding the affected token.
We're aware of an incident affecting MANTRA Chain and have halted the chain as a precaution while we investigate. All endpoints and transactions are currently frozen.
This means deposits and withdrawals to/from MANTRA Chain are temporarily affected. If you're unsure how this…
MANTRA initially said it had frozen all transactions and network endpoints as a precaution while investigating an incident. Deposits and withdrawals were also paused on affected exchanges.
A later update said an attacker had exploited a vulnerability in an “upstream dependency,” meaning software used by MANTRA Chain but developed outside the network itself.
