MANTRA paused its blockchain after a glitch hit the Cosmos EVM module, driving the native token straight to a fresh all-time low on August 21. 💀 The crew confirmed only two wallet addresses got touched with no user funds touched by any exploit and a fixed build now under test ahead of a possible restart later today.
Chain Pause Unfolds While Fix Gets Tested 🕸️
MANTRA first announced the stop as a precaution during their probe, freezing every endpoint and transaction while deposits plus withdrawals on the network also paused. View on X
A follow-up note kept the network frozen as devs built and tested the remedy, locking down transactions, transfers and staking though user funds stayed safe throughout the pause.
OM Shadow Still Looms Over MANTRA 🌑
The team later pinned the root cause to the Cosmos EVM module with the issue limited to those two wallets before it got contained. View on X
No user funds were exploited they reiterated while a full snapshot was taken before restart prep began. The patched v8.4.0 build fixes the flaw and is running on DuKong testnet with mainnet upgrade and restart eyed for later today if tests pass clean. Validators were instructed to keep mainnet nodes offline until the go-ahead. The token now under the MANTRA ticker after its 1:4 non-dilutive redenomination and ticker swap in March means holders got four new tokens per old OM without value shift at conversion. After the halt the price dropped more than 18% from roughly $0.0050 down to $0.0041 marking that new low. It has since recovered some ground trading near $0.0046 yet still sits around 82% under the March 4 peak of $0.02627. OM itself crashed from above $6 to below $1 in under an hour back on April 14 2025 erasing about 90% of value with over $70 million in liquidations. CEO John Patrick Mullin pointed to reckless forced closures on centralized exchanges as the trigger. Cuts followed into January 2026 with staff reductions across teams after 2024 and early 2025 growth left costs too high post-crash. A 300 million OM burn was pledged and completed that same month. A full post-mortem is promised next while the chain stays paused through testing leaving limited details so far. 🖤 🔒 🌙 🦇 💉
Just another echo from the void by iconofsin.eth 💖
