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FollowingMANTRA tokens plummet due to software flaws, suspending network operations
The token price of MANTRA, an Ethereum virtual machine for real-world assets such as funds and bonds, plunged 18.5% to a record low. Shortly thereafter, the network stopped being blocked and entered a suspended state due to software vulnerabilities.
During the team's investigation, on-chain activity was frozen.
According to market data, the MANTRA token fell from US$0.005060 to an all-time low of US$0.004126 at about 11:10 pm on Thursday night Beijing time. Prices then recovered to about $0.0044, but still fell about 10% within 24 hours, while trading volume surged nearly 600% to $24 million.
The network produced its last block at about 11:13 pm Beijing time on Thursday, just minutes before the token hit a low. About half an hour later, MANTRA announced a suspension of operations, calling it a precautionary measure. All endpoints and transactions had been frozen while the team was investigating the cause of the accident. The outage affected the chain's public endpoints, verification nodes, cross-chain bridge operations, and the management links MANTRA uses to communicate with other blockchains.
Upstream dependencies were exploited
In a subsequent update, the team stated that the attacker exploited a vulnerability in an "upstream dependency", software used by the MANTRA chain but developed externally. The team said: "We have located the vulnerability and are preparing to release a fix."
MANTRA's verification node is still offline, and developers are preparing and testing fixes. Restarting blockchain requires coordination with a broader group of transaction verification node operators. At the same time, the project party is tracking the flow of funds and working with the exchange to assess losses, but has not disclosed which software was used, how the attack was carried out, and whether there was any asset loss.
MANTRA said: "We are continuing to assess the full impact and cannot yet confirm the full scope of impact."
Hard times for MANTRA
The incident comes during a difficult time for the project and also adds pressure to an industry that is already facing security questions-institutional investors are particularly concerned about security issues when evaluating real-world asset tokenization. MANTRA's previous OM tokens plunged more than 90% in April 2025 due to a bizarre sell-off, and the market value evaporated by more than US$5 billion. Inveniam Capital Partners, which invested $20 million in MANTRA last year, announced plans to acquire the project in June, and the transaction is expected to complete in the third quarter.
