Manta Network Got DDoS Attacked Amid Listing On Several Exchanges

Manta Network, a zero-knowledge proof-powered layer-2 blockchain made a successful token listing on several exchanges, but the listing was followed by a broad distributed denial-of-service (DDoS) attack against the network. Since then, the incident has been handled.

On January 18, more than 135 million remote procedure call (RPC) requests were sent to the blockchain's nodes, according to Kenny Li, co-founder of P0xeidon Labs, the cryptography development team behind Manta Network. Li asserted that "funds are safe" and "the blockchain is operating safely," but added, "This is a very aggressive and timed attack." Li did, however, caution that for the time being, "communication between apps and the blockchain is severely limited."

“Rest assured, we are not going anywhere. We have built for three years, and we see no end in sight. Thank you so much for your support as a community.” the co-founder said.

Source: Kenny Li

Manta tokens started trading on a number of platforms, including Binance, Bithumb, and KuCoin, on the same day. The Manta token is now worth $2.28, meaning that its fully diluted market cap is $2.28 billion as of the time of publication. The first few hours of trading saw the exchange of Manta worth over $686 million.

According to a Manta Network representative, Manta Pacific's total value locked (TVL) increased by 70 times over the course of the last quarter, and it is currently valued at $424 million. Prior to publishing, an airdrop valued at $114 million, or 5% of Manta's entire supply, was also announced for supporters and users of the ecosystem.

P0xeidon Labs, Manta’s owner, announced on July 19, 2023, that it had completed a $25 million Series A investment round. Additionally, the company unveiled Manta Pacific, the testnet for its layer-2 infrastructure, which went live on September 12, 2023. After the testnet became live in July 2023, more than 3.5 million transactions and 150,000 wallets were created.

Launched in April 2023, Manta Atlantic's premier nonfungible token private offering platform has since produced over 300,000 soulbound tokens with minimal knowledge across major ecosystem partners, including CyberConnect, Galxe, Arbitrum, and Linea.