MANTRA’s token took another hit late Thursday. OM fell 18.5% from its 24-hour high, touching a new low of $0.004126 just minutes before MANTRA Chain stopped producing blocks. Trading volume increased from nearly 600% to around $24 million as the news spread. The token later recovered slightly to about $0.0044, but it was still down roughly 10% on the day.
At first, the team described what happened as an “unexplained incident.” That didn’t last long. MANTRA later said an attacker had attempted to exploit a vulnerability in an upstream dependency software the chain relies on but doesn’t directly control.
MANTRA has since frozen network endpoints and transactions while engineers work on a patched release, with the chain expected to require a coordinated restart once the fix is ready. The team says it has identified the bug and is now testing a patch, but validators remain offline while that work continues. And with an entire network halted, getting back online isn't as simple as flipping a switch. Validators have to come back into sync before the chain can safely resume, so there’s still no firm timeline. Until then, bridges, RPC endpoints, and exchange deposits and withdrawals remain frozen.
OM is now more than 83% below its March 2026 high of $0.02627, and this isn't the first time the token has been caught in a major collapse. In April 2025, OM lost more than 90% of its value within hours, wiping out over $5 billion in market value. MANTRA blamed forced liquidations at the time rather than a problem with the token itself, but that explanation didn't convince everyone. Crypto analyst Ran Neuner even questioned the move publicly, arguing that if it wasn't a rug pull, it certainly didn't look like a normal market sell-off.
That suspicion never completely disappeared. Now, with another security incident hitting the network even if the vulnerability originated outside MANTRA's own code those old questions are likely to come back.
And that's probably the bigger issue here. RWA chains have spent years pitching tokenized real-world assets to institutions as a more secure and dependable corner of crypto. But when the underlying chain has to shut down across the board because of a vulnerability somewhere in its software supply chain, that promise suddenly gets a much harder question to answer.