The team behind the RWA protocol Mantra announced an unspecified incident, prompting a precautionary halt to network operations. The cause of the disruption and the timeline for recovery have not been disclosed.
https://twitter.com/MANTRA_Chain/status/2090592265765077162
"Earlier today, we identified an attacker exploiting a vulnerability in an upstream dependency used by the blockchain and halted the network as a precautionary measure," the statement read.
All transactions, public endpoints, and bridge operations have been frozen, preventing asset movement across the network. Exchanges affected by this situation have begun suspending deposits and withdrawals.
Developers are currently assessing the impact of the incident on the ecosystem and are preparing a protocol update for the network's relaunch. They stated that the release will not be activated until a complete security review is conducted and the necessary level of validator coordination is achieved.
According to CoinGecko, the MANTRA token hit an all-time low of $0.004126 amidst the outage. As of this writing, the asset has recovered slightly to $0.00448, reflecting a roughly 10% decline over the past day.
Source: CoinGecko.This price represents approximately an 83% drop from its peak of $0.02627 reached in early March. The project's previous native token, OM, saw a decline of over 90% in April 2025, losing around $5.5 billion in market capitalization.
The total market capitalization of MANTRA is approximately $24.8 million.
The project's total value locked (TVL) has decreased to $539,822, compared to a peak of $4.5 million before the OM crash.
Source: DeFi Llama.It’s worth noting that in January, the project announced a restructuring that included the layoffs of an unspecified number of employees.