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 from Swift, MAXI, NICER, and NuSTAR. The source flux increased for similar to 10(3) s after the discovery, decayed rapidly over similar to 5 orders of magnitude in five days, and then remained almost constant over nine months. Large-amplitude short-term variations on timescales 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 similar to 1.0 extending up to similar to 30 keV, above which an exponential cutoff was present. The photon index increased in the following rapid decay and became similar to 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.