MANTRA OM Blockchain Hacked for $3.6M, Highlighting Interconnected Risks

MANTRA (OM) is a blockchain project that aims to bring real-world assets onto the blockchain, allowing for easier trading. The project has received regulatory approval from Dubai's Virtual Assets Regulatory Authority (VARA), giving it legal permission to offer exchange, broker-dealer, and investment services in the UAE.

In August 2026, an attacker exploited a bug in the Cosmos EVM software used by MANTRA's chain, stealing 720.9 million tokens worth around $3.6 million at the time of the hack. The attack went unnoticed for almost four hours due to a flaw in the burn address flagging system.

The incident highlights the interconnected nature of blockchains and the risks associated with shared code vulnerabilities. MANTRA's chain was halted for 30 hours while the bug was patched, and close to 95% of the stolen tokens were moved to an exchange before trading resumed.