Data Update: 12 March 2025

March 13, 2025

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On Wednesday 12 March 2025, between 15:39 UTC and 15:46 UTC, an API providing MANTRA’s circulating $OM Token supply reported an incorrect value.

As a result, this caused MANTRA’s market capitalization to be improperly reflected on CoinMarketCap and Coingecko. This was resolved by CoinMarketCap by 17:15 UTC, and Coingecko by 03:15 UTC (13 March 2025).

The moment this error was flagged by a member of our community to MANTRA, it was communicated widely to our community by our CEO. No major token movements occurred, and no funds were at risk.

Following a comprehensive review by our core working group, we are providing a more detailed summary of what happened below. Should you have any additional questions, you can connect with us here.

What Happened on 12 March?

On 12 March, the Sherpa community alerted us to discrepancies in MANTRA's market capitalization, as displayed on CoinMarketCap and CoinGecko. Upon further investigation we also noticed the circulating supply was misreported on Etherscan, as well as other data analytics platforms.

Upon review, we concluded that liquid tokens sitting on Ethereum were not being counted correctly.

This was due to the Infura Ethereum API being down momentarily. While the API self corrected within minutes, the information displayed was not reflected by the data aggregators for the time period mentioned above.

What Further Steps are Being Taken to Ensure This Does Not Happen Again?

As a 24/7 operation, we strive to ensure a durable, accurate and transparent ecosystem. To ensure symmetric dissemination of information to all members of our community, we have commenced implementing fail safe mechanisms around the API, with built in redundancies to prevent a recurrence. Additional steps for identifying and alerting steps for network changes, including changes to token statistics have been implemented that operate on a 24/7, 365 basis.

We hope this update provides a clear description of the incident and the ongoing steps we’re currently implementing to improve not just our ecosystem, but the experience of those within it.

As always, we encourage any concerned members of the community, and those impacted by this to contact Support.

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About MANTRA

MANTRA Chain is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA Chain empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability.

MANTRA holds a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services.
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