MANTRA halted its blockchain following an incident impacting its Cosmos EVM module, which sent its native token to a new all-time low on August 21.
The project team stated that two wallet addresses were affected and that no user funds were exploited. Developers took a full network snapshot and prepared a patched v8.4.0 release to address the underlying vulnerability, which was tested on the DuKong testnet ahead of a planned mainnet restart.
During the halt, all endpoints, transactions, transfers, and staking operations were frozen, while deposits and withdrawals were temporarily affected. Validators were instructed to keep their mainnet nodes offline until an official restart was announced.
The native token dropped more than 18% during the incident, falling from approximately $0.0050 to $0.0041 to establish a new all-time low. It later recovered slightly to trade near $0.0046, remaining significantly below its March 4 all-time high of $0.02627.
The project previously underwent a 1:4 non-dilutive redenomination and ticker change from OM to MANTRA in March. Previous events in the project's history included an April 2025 token collapse, subsequent staff cuts in January 2026, and a token burn led by CEO John Patrick Mullin. The MANTRA team stated that a full post-mortem would be released following the resolution of the network halt.
