MANTRA (OM) Crashes 18% to $0.004126 Record Low as Chain Halts on Exploit

MANTRA’s native token OM plunged 18.5% from its 24-hour high to a fresh all-time low of $0.004126 just minutes before the MANTRA Chain stopped producing blocks, according to CoinGecko data cited by multiple outlets. Trading volume spiked nearly 600% to $24 million as the network went dark, and the team later said an attacker had exploited a vulnerability in software used by the chain.

OM fell from $0.005060 to the $0.004126 low around 11:00 pm UTC on Thursday, then clawed back to roughly $0.0044 — still down about 10% on the day. The last block, number 17,449,398, was produced at 11:13 pm UTC, and the network has not resumed since.

What halted the network

MANTRA posted its first incident notice at 11:44 pm UTC Thursday, saying it was “aware of an incident affecting MANTRA Chain” and had frozen the network as a precaution. “We don’t have a root cause or timeline to share yet,” the team said, adding that all endpoints and transactions were halted.

The project’s status page classified the outage as full, hitting public endpoints, validators, bridge migration operations and MANTRA-managed Inter-Blockchain Communication relays. The team said it would not restart block production until it was confident the network was secure.

Exchanges freeze OM movements

With the chain frozen, assets cannot move on MANTRA, and several exchanges have paused deposits and withdrawals for OM with no stated timeline for restoring either service. MANTRA has not disclosed whether the price drop is directly tied to the incident or confirmed whether any user funds were lost or put at risk.

The 600% jump in trading volume to $24 million suggests traders scrambled to exit or reposition around the halt, even as liquidity on the underlying chain was effectively locked. For holders, that combination — a frozen network plus a spot-market sell-off — is the worst-case scenario: price discovery keeps moving on exchanges while the ability to move OM on-chain does not.

Why it matters

This is not MANTRA’s first brush with a sharp token collapse; the project also saw a major OM crash in April 2025. A second severe drawdown, this time tied to a reported chain-level exploit rather than market dynamics alone, raises fresh questions about the resilience of MANTRA’s infrastructure and bridge components.

Until the team confirms a root cause and a restart timeline, OM holders face an illiquid asset on-chain and continued price volatility on exchanges that still allow trading. Cryptaur will update this story as MANTRA releases further details on the incident and any potential loss of funds.

Sources

• coindesk.com
• cointelegraph.com