MANTRA’s native token OM dropped sharply Thursday night, hitting an all-time low before the project announced it had halted its blockchain entirely.
According to CoinGecko, OM fell from $0.005060 to $0.004126 around 11:00 pm UTC on Thursday. That’s a drop of 18.5% from its 24-hour high. The token later recovered to around $0.0044.
Over 24 hours, OM remained down roughly 10%. Trading volume jumped nearly 600% to $24 million during the period.
MANTRA published an incident notice at 11:44 pm UTC on Thursday. The team said it was “aware of an incident affecting MANTRA Chain” and halted the network as a precaution while it investigated.
“We don’t have a root cause or timeline to share yet,” the project stated. All endpoints and transactions were frozen at that point.
MANTRA’s status page classified the event as a full outage. It listed public endpoints, validators, bridge migration operations, and MANTRA-managed Inter-Blockchain Communication relays as all affected.
We're aware of an incident affecting MANTRA Chain and have halted the chain as a precaution while we investigate. All endpoints and transactions are currently frozen.
This means deposits and withdrawals to/from MANTRA Chain are temporarily affected. If you're unsure how this…
— MANTRA | The EVM L1 for RWAs (@MANTRA_Chain) August 21, 2026
The last block produced on the network was block 17,449,398, recorded at 11:13 pm UTC Thursday. No new blocks have been produced since.
The chain freeze has forced exchanges to pause deposits and withdrawals for OM. No timeline has been given for when either service will resume.
The team said it will not restart the network until it is confident it is safe to do so. Engineering and security teams are working with external partners on the investigation.
MANTRA has not said whether the price drop was connected to the incident. The project also has not confirmed whether any user assets were lost or put at risk.
This is not the first major crisis for MANTRA in recent months. In April 2025, the project’s former OM token collapsed more than 90%, falling from around $6.30 to below $0.50. That wipeout erased over $5 billion in market value.
The collapse led to restructuring and layoffs. CEO John Patrick Mullin described 2025 as the project’s most challenging year.
In June 2026, Inveniam Capital Partners announced plans to acquire MANTRA. The deal followed a $20 million investment and was expected to close in Q3 2026.
As of publication, MANTRA Chain remains halted. The team has shared no root cause or timeline for the network to come back online.
The post MANTRA (OM) Price: OM Crashes to Record Low as Entire Blockchain Goes Dark appeared first on CoinCentral.
