MANTRA Chain Network Halted Amid Unidentified Incident

The MANTRA Chain network has been halted due to an unidentified incident, causing transactions and asset movement to freeze. The team behind MANTRA announced on August 21 that they have halted validators, public endpoints, bridges, and managed relays while investigating the issue.

As a precautionary measure, the halt prevents new transactions from processing, leaving users unable to transfer assets or interact with applications on the network. However, the team assures users that no action is required, and it has warned against people offering 'recovery' assistance, which may be used by scammers.

The incident affects infrastructure developed for tokenized real-world assets (RWAs), including a $108.8 million fund for RWA projects with a planned four-year deployment period. The team has not disclosed the suspected cause or whether an attacker gained access to funds, but they promise regular updates and have notified exchanges and ecosystem partners.

Trading activity on MANTRA has increased, with the token experiencing a 9.8% decline over the past 24 hours, according to CoinGecko market data. The project's price chart shows a significant drop in value, with its seven-day decline reaching around 12.8%. The team will not resume the network until they are confident it is safe to do so.