MANTRA Chain freezes after a technical incident as its native token falls to a new all-time low, with exchanges suspending deposits and withdrawals.
A Steep Decline, Followed by a Partial Bounce
Data from CoinGecko shows the token fell from an intraday high of $0.005060 down to an all-time low of $0.004126, an 18.5% swing that played out over a few hours late Thursday nite, around 11:00 pm UTC. The token has since clawed back some ground, trading near $0.0044, though it’s down roughly 10% for the day. The price action came alongside a dramatic spike in trading, with 24-hour volume surging almost sixfold to around $24 million — a sign that the moves were driven by either panic selling, opportunistic buying, or both.
Network No Longer Generates Blocks
As the price began to fall, MANTRA Chain stopped producing new blocks altogether. The project’s public RPC endpoint shows the last confirmed block — number 17,449,398 — was mined at 11:13 pm UTC Thursday, just minutes after the token had already bottomed out.
The MANTRA team confirmed the disruption around half an hour later, saying on social media that it was investigating “an incident affecting MANTRA Chain” and had chosen to pause the network as a safety measure. The team was open about the uncertainty surrounding the event, saying they didn’t yet have a clear cause or an estimate for when normal operations might resume. Meanwhile, all network endpoints and transaction processing were reported frozen.
Related: Mantra Is Changing Things Up After a Tough Year and a Drop in the Value of the OM Token
Wide Reach Outage
MANTRA’s own status page shows the disruption is not limited to block production. The outage has impacted public RPC endpoints, validator operations, cross-chain bridge migrations, and the relays MANTRA utilises for Inter-Blockchain Communication (IBC) with other networks. Basically, the chain is closed—nothing is coming in and nothing is going out.
That freeze has had immediate knock-on effects: several exchanges that support the token have suspended deposits and withdrawals tied to MANTRA Chain, and none have provided a timeline for when those services might return. The project itself has stated that it won’t be bringing the network back online until it’s confident that doing so is safe. At this point, no root cause has been identified or shared publicly.
It is also unclear whether the price crash has something to do with the technical outage, or whether any user funds have been lost or put at risk because of the incident. Neither question has been directly addressed by the team, who also failed to respond to a request for comment from coinGSM before publication.
One Project Still Recovering from Its Last Crisis
MANTRA has faced a market shock before. The project’s previous token, OM, experienced a catastrophic collapse back in April 2025 — losing more than 90% of its value and falling from roughly $6.30 to under $0.50, wiping out over $5 billion in market capitalisation in the process.
Much of MANTRA’s recent history has been shaped by the fallout from that event. The company had a wave of layoffs and a more general restructuring at the start of the year, with CEO John Patrick Mullin publicly calling 2025 the hardest year in the project’s history. Then in June, Inveniam Capital Partners — which had already invested $20 million into MANTRA in 2025 — announced its intention to acquire the project outright.
It remains to be seen whether this latest incident is a new setback or simply an isolated technical glitch. Token holders and exchange users are left waiting for an update for now, with the network still offline and no timeline in sight.
This article is based on publicly available data and statements at the time of writing. As the situation is fluid, readers are advised to refer to official MANTRA channels for the latest updates before making any decisions.
