MANTRA's Blockchain Halted by Incident in Cosmos EVM Module

MANTRA's Layer 1 blockchain was frozen Thursday evening after an incident in its Cosmos EVM module. The team said it had found the root cause and contained the threat, but the network remains down.

The freeze stopped settlement on a chain designed to hold regulated real-world assets. MANTRA stated that no user funds were taken, but did not disclose whether any assets moved out of two affected wallets. A post-mortem analysis is promised.

MANTRA's token hit an all-time low of $0.0041 about an hour before the company disclosed the halt. It had traded at $0.0050 four hours earlier and recovered to $0.0048 by Friday afternoon, down 4% over 24 hours. The token trades 82% below its $0.0263 high set in March.

This is the second time in seven months that MANTRA has been involved in a security event related to the Cosmos EVM codebase. In January, an attacker drained roughly $7 million from Saga's EVM network through a bug in the ICS20 precompile.