The Dubai-licensed RWA Layer 1 has been frozen since Thursday evening. MANTRA says the incident touched two wallets it controls and that no user funds were taken, and has not said whether anything left those wallets.

After a fall from grace last year, Mantra is seemingly attempting a comeback with a rebrand.

Mantra’s native token lost most of its value last April after what the project’s founder described as “reckless forced liquidations” by CEXs.

Mantra’s native OM token crashed by 95% on Apr. 13, sparking rumors of insider dumping.

The RWA project dropped by 93% on Sunday afternoon in what the team claims were “reckless forced liquidations.”