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MANTRA Chain freezes deposits and withdrawals after an unspecified incident
MANTRA said deposits and withdrawals are halted while it investigates, and its MANTRA token fell 9.9% over the past 24 hours.
MANTRA Chain, a Layer 1 blockchain focused on real-world asset tokenization, has frozen its network and all transactions after discovering an unspecified incident, according to The Block. The team said all endpoints and transactions are currently frozen while it investigates the issue.
The disruption affects users' ability to move funds, as MANTRA said the stoppage impacts deposits and withdrawals to and from the network. It advised users to refrain from making transactions until more information is shared.
MANTRA also stated it has not yet identified a root cause or provided a timeline for resolution. Its status page said engineering and security teams are working with external partners and have notified exchange and ecosystem partners to pause transactions for the native MANTRA token until the problem is resolved.
The Block reported that the MANTRA token was down 9.9% in the past 24 hours, trading at $0.004406. Separately, MANTRA previously announced in June that strategic backer Inveniam Capital Partners plans to acquire the platform, with the deal expected to close in the third quarter of this year.