MANTRA Chain halted its entire network Thursday, freezing all endpoints, validators and transactions. The move temporarily disrupted deposits and withdrawals on the Layer 1 blockchain focused on tokenizing real-world assets.
The team initiated the pause to assess an ongoing incident but has not disclosed a root cause or recovery timeline.
OM, the protocol's token, dropped 10 percent over the past day—a stark underperformance against Bitcoin, which traded at $74,562, up 7.8 percent in 24 hours.
MANTRA positions itself as a MultiVM blockchain supporting both EVM and CosmWasm smart contracts for RWA development. The project raised $11 million in a prior funding round and launched a $108.8 million ecosystem fund. Institutional backers include Nomura's digital asset arm, Laser Digital, and Brevan Howard Digital.
The protocol's architecture includes role-based access controls enabling asset freezing, seizing, destroying and transferring—mechanisms that could be relevant in scenarios like the current pause. Mantra Finance, the network's core decentralized exchange, remains non-functional during the halt.
MANTRA advised users to hold off on transactions until the team releases verified updates through official channels.
