MANTRA Chain Outage Halts Network as OM Sits Near $25M Market Cap
MANTRA Chain, the Layer 1 blockchain built around tokenizing real-world assets, went dark on Thursday, and nobody outside its core engineering team seems to know exactly why. The MANTRA Chain outage froze every public endpoint and on-chain transaction, disabling transfers of its native token, OM, and leaving exchanges scrambling to suspend deposits and withdrawals while the project investigates what it has only described as an “incident.”
Key takeaways
- MANTRA Chain halted all network operations on Thursday as a precaution after detecting an undisclosed incident, freezing every public endpoint and on-chain transaction.
- South Korean exchanges Upbit and Bithumb suspended OM deposits and withdrawals, though spot trading of the token continues on centralized platforms.
- OM’s market cap sits around $25 million, a steep drop from its $6 billion peak in 2024 and a token that crashed more than 98% in a single April 2025 session.
- MANTRA is in the process of being acquired by Inveniam Capital Partners, with the deal expected to close in the third quarter of 2026, and the chain holds a digital-asset license from Dubai’s VARA.
- The team says the network cannot restart until it confirms with security partners that doing so is safe, and it has warned users to avoid anyone offering to “help” retrieve frozen funds.
MANTRA Chain Halts Network Operations Amid Unexplained Incident
MANTRA’s own team confirmed the shutdown directly, writing on social media that it was “aware of an incident affecting MANTRA Chain” and had halted the chain “as a precaution” while investigating, according to The Block. All endpoints and transactions were frozen the moment the decision went through, cutting off deposits and withdrawals for anyone holding OM on the network.
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