MANTRA Freezes Chain After Cosmos EVM Incident, Token Hits New Low
MANTRA has frozen its blockchain after an incident tied to its Cosmos EVM module, with the MANTRA token falling to a new all-time low on Aug 21, 2026. The team says two wallet addresses were affected, but no user funds were exploited.
MANTRA initially halted mainnet endpoints and transactions as a precaution, also suspending deposits, withdrawals, transfers, and staking. Later updates confirmed the network remained halted while developers identified the root cause and prepared a fix.
The remediation centers on a patched v8.4.0 release tested on the DuKong testnet. A coordinated mainnet upgrade and restart is targeted later today if testing succeeds. Validators have been instructed to keep their mainnet nodes offline until the restart is officially announced.
Price action reflects heightened risk. MANTRA (formerly OM after a March 1:4 non-dilutive redenomination and ticker change) dropped more than 18% from around $0.0050 to about $0.0041, then modestly recovered to near $0.0046—still roughly 82% below its March 4 all-time high.
For traders, this follows a prior OM/MANTRA shock: OM collapsed in April 2025 (from above $6 to below $1 within an hour), with liquidation losses exceeding $70M and later organizational cost-cut measures. MANTRA says it will publish a full post-mortem, but for now the chain remains paused while the patch is tested. Keep watching MANTRA restart signals, validator participation, and liquidity/volatility around the upgrade window.
Bearish
Bearish, because the token is reacting to a live operational failure: MANTRA is actively freezing mainnet activity while testing a patch for a Cosmos EVM-related issue, and the coin is already printing a fresh all-time low. Similar chain-freeze incidents historically tend to pressure liquidity, widen spreads, and trigger risk-off positioning until a successful restart is confirmed.
Short-term: trading is likely to remain volatile around the upgrade window. Even though the team claims no user funds were exploited, halted transfers/staking and validator downtime create uncertainty and can accelerate sell pressure.
Long-term: if the v8.4.0 fix and restart succeed cleanly, the damage may partially reverse as confidence returns. However, the article notes a prior OM collapse and liquidation event in 2025, which increases the market’s sensitivity to operational/contract-layer vulnerabilities. Until a post-mortem is published and stability is demonstrated over multiple days, the base-case impact remains negative for MANTRA’s risk premium.