MANTRA Chain Halts Network Amid Attack Attempt, Token Price Drops 10%

Key facts

• MANTRA Chain halted its network and froze all transactions due to an attempted exploit.
• The incident involved an attempt to exploit a vulnerability in an upstream dependency.
• The MANTRA token price declined by more than 10% following the network disruption.
• Trading volume for the MANTRA token saw a significant increase.
• The MANTRA team is working with external partners to investigate and prepare a patched release.

MANTRA Chain, a Layer-1 blockchain specializing in real-world asset (RWA) tokenization, has temporarily halted its network and frozen all transactions as a precautionary measure following an attempted exploit. The incident, which involved an attempt to leverage a vulnerability in an upstream dependency, led to a price drop of over 10% for its native token, MANTRA.

The halt has disrupted public endpoints, validator operations, bridge functionalities, and all transactions, including deposits and withdrawals. Crypto exchanges and ecosystem partners have been notified of the temporary pause. The MANTRA team is collaborating with external partners to investigate the incident, prepare a patched release, and coordinate a restart with its validator set.

Amid the network disruption, the MANTRA token's price fell to approximately $0.00446. Trading volume surged by nearly 650%, indicating significant investor activity. Despite the recent drop, some buy-the-dip sentiment was observed. Data from CoinGlass showed a rise in MANTRA futures open interest, climbing 11% to $9.19 million in the past four hours, with a notable increase in 24-hour open interest.