MANTRA Freezes Blockchain After Cosmos EVM Incident as Token Hits New Low

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 crew says two pockets addresses had been affected, no consumer funds had been exploited, and a patched launch is being examined earlier than a attainable community restart later right now.

MANTRA Freezes Chain as It Tests a Fix

MANTRA initially said 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 had been additionally quickly affected.

A standing replace later mentioned the community remained halted whereas builders ready and examined a remediation. Transactions, transfers and staking operations had been unavailable, though MANTRA mentioned consumer funds had been unaffected by the halt itself.

The crew has since identified the foundation 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 had been exploited,” the crew repeated.

They additionally mentioned 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 mission focusing on a coordinated mainnet improve and restart later within the day, offered testing finishes cleanly.

Validators have additionally been informed to maintain their mainnet nodes offline till the restart is introduced.

The native token, previously recognized as OM, now trades below the MANTRA ticker after the mission 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.

However, on the time of writing it had managed to claw again a few of that worth and was altering palms close to $0.0046, which nonetheless put MANTRA about 82% under its March 4 all-time high of $0.02627.

OM Collapse Still 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.

At the time, CEO John Patrick Mullin blamed the collapse on what he described as “reckless compelled closures” by centralized exchanges.

The fallout continued into January 2026, when MANTRA announced employees cuts throughout a number of groups. The firm mentioned its fast growth by way of 2024 and early 2025 had left its value base too high 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 crew’s replace.

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