The Peculiar X-Ray Transient Swift J0840.7−3516: An Unusual Low-mass X-Ray Binary or a Tidal Disruption Event?

We report on the X-ray properties of the new transient Swift J0840.7$-$3516, discovered with Swift/BAT in 2020 February, using extensive data of Swift, MAXI, NICER, and NuSTAR. The source flux increased for $\sim 10^3$ s after the discovery, decayed rapidly over $\sim$ 5 orders of magnitude in 5 days, and then remained almost constant over 9 months. Large-amplitude short-term variations on time scales of 1--$10^4$ s were observed throughout the decay. In the initial flux rise, the source showed a hard power-law shaped spectrum with a photon index of $\sim 1.0$ extending up to $\sim 30$ keV, above which an exponential cutoff was present. The photon index increased in the following rapid decay and became $\sim 2$ at the end of the decay. A spectral absorption feature at 3--4 keV was detected in the decay. It is not straightforward to explain all the observed properties by any known class of X-ray sources. We discuss the possible nature of the source, including a Galactic low mass X-ray binary with multiple extreme properties and a tidal disruption event by a supermassive black hole or a Galactic neutron star.