MANTRA Chain Halts Network Amid Unspecified Incident, OM Token Slides 9.9%
MANTRA Chain froze block production and all transactions Thursday while investigating an unspecified incident, with OM sliding to $0.004406 as exchanges were told to pause the native token.
The network froze Thursday. No explanation yet. MANTRA Chain, a Layer 1 blockchain built around real-world asset tokenization, stopped producing blocks and locked every transaction while its team investigates an incident it has not yet characterized.
OM fell 9.9% over 24 hours to $0.004406, according to the outlet at The Block’s press time. The drop lined up with the halt. MANTRA has not drawn a causal link between the two.
The team’s statement on X was brief. “We’re aware of an incident affecting MANTRA Chain and have halted the chain as a precaution while we investigate,” MANTRA wrote on X. “All endpoints and transactions are currently frozen.” The post offered no root cause. No timeline. No description of what went wrong.
Engineering and security teams are working with external partners, per the chain’s status page. MANTRA said it notified exchange and partner platforms to pause transactions on the native token until the issue clears. It did not name platforms. Deposits and withdrawals sit frozen. Users were told not to transact until further notice.
No root cause. No estimated resolution time. The Block reported both remain unknown.
The halt lands at a tense moment. In June, MANTRA announced that Inveniam Capital Partners, a strategic backer, would acquire the platform. The deal is expected to close in the third quarter of 2026. Before that, the chain restructured and cut staff in January, after what The Block described as OM’s major collapse in 2025.
That crash pushed MANTRA’s founder to pledge burning $82 million worth of his own OM tokens. The goal was rebuilding trust.
Whether this incident touches the pending acquisition, or the deposits now locked on a frozen chain, nobody knows yet. The team has not said if any user funds moved.
