MANTRA token sinks 18% to record low amid blockchain halt

MANTRA’s native token sank 18.5% from its 24-hour high to a record low shortly before MANTRA Chain stopped producing blocks and its team announced a precautionary halt over an unexplained incident.

According to CoinGecko, MANTRA fell from $0.005060 to an all-time low of $0.004126 around 11:00 pm UTC on Thursday. It later recovered to about $0.0044 but remained down roughly 10% over 24 hours, while trading volume climbed nearly 600% to $24 million. 

MANTRA said Friday it was “aware of an incident affecting MANTRA Chain” and had halted the network as a precaution while it investigated. “We don’t have a root cause or timeline to share yet,” the project said, adding that all endpoints and transactions were frozen. 

The halt prevents assets from moving on MANTRA Chain and has prompted affected exchanges to pause deposits and withdrawals, with no timeline given for either service to resume. 

MANTRA’s 24-hour price chart. Source: CoinGecko

MANTRA Chain remains halted as investigation continues

MANTRA’s status page classified 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.