MANTRA slid to an all-time low of $0.0041 as the project froze its blockchain after detecting an attacker targeting a vulnerability in an upstream dependency. The record low occurred while the rest of the cryptocurrency market climbed, extending a rally that accelerated on Wednesday.
MANTRA Chain, a Layer 1 blockchain designed for tokenizing real-world assets, halted operations earlier in the day, freezing all endpoints and transactions. This temporary halt impacted deposits and withdrawals to and from the chain. According to a project update, the exploit targeted third-party code that the chain relies on rather than software written by the team itself.
The project stated that it has identified the vulnerability and is preparing a patch. Infrastructure and validators remain offline until the upgrade is ready, with the network requiring a coordinated restart involving validators before resuming operations. The team is currently tracing fund movements and has contacted exchange partners, while warning holders to ignore unofficial recovery assistance.
The security incident weighed on the token, which traded at $0.0044, marking an 8.5% decline on the day. This downward movement contrasted sharply with the wider market. Bitcoin surpassed $75,000 amid $1.06 billion in short liquidations, and other major cryptocurrencies traded higher, boosting the total crypto market capitalization by nearly 4% over the day.
This incident represents the network's second major crisis in 16 months. Previously, the project's token, then traded as OM, lost nearly 90% of its value in April 2025, erasing approximately $5.5 billion in market value within an hour. The project retired the OM ticker in March following a non-dilutive 1:4 split at block 13,000,000 that converted each OM into four MANTRA tokens.
