MANTRA Token Crashes After Blockchain Exploit
MANTRA token drops 18% to record low after blockchain halt following security exploit.
The update
The MANTRA token sank 18.5% from its 24-hour high to a record low of $0.004126 around 11:00 pm UTC on Thursday, shortly before the network stopped producing blocks. The price later recovered to about $0.0044, but trading volume surged nearly 600% to $24 million. MANTRA Chain has been halted as a precaution after an attacker exploited a vulnerability in the chain’s software, prompting exchanges to pause deposits and withdrawals.
Why it matters
This incident highlights the risks of network halts, as users are unable to access their funds during the investigation. The network freeze prevents all assets from moving on MANTRA Chain, leaving users without access to their assets while the team investigates the security breach.
What to watch
Investors should watch for the team’s confirmation of any lost assets and the timeline for resuming operations. The MANTRA team has not specified when the network will restart or if the price drop was directly related to the exploit. Given the thin details on the root cause, monitoring the next official update is crucial for understanding the full scope of the incident.
Sources
- cointelegraph.com — price movement details and exchange response
- coindesk.com — exploit confirmation and technical details