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Manta Network faces DDoS attack amid token launch

Manta Network faces DDoS attack amid token launch

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TL;DR

  • Manta Network experienced a significant DDoS attack amidst its token listing on major exchanges, but maintained operational security and assured users of fund safety.
  • The cyberattack targeted the network’s communication channels, causing disruptions, but did not compromise the blockchain’s functionality or user funds.

Manta Network, a renowned Layer 2 blockchain platform, encountered a formidable Distributed Denial of Service (DDoS) attack. This incident occurred amid the high-profile listing of its token on multiple exchanges.

Despite the severity of the attack, which bombarded the network’s nodes with over 135 million remote procedure call (RPC) requests, Manta Network maintained operational integrity and assured users of the safety of their funds.

Cyber attack amid token generation event

January 18 marked a crucial day for Manta Network, not only for its token listing on leading exchanges like Binance, Bithumb, and KuCoin but also for facing an unprecedented cyber challenge. The DDoS attack targeted the network’s communication channels, causing significant disruptions. However, Kenny Li, co-founder of P0xeidon Labs, the cryptographic development team behind Manta Network, confirmed the blockchain’s resilience amidst the turmoil. He emphasized that the blockchain is running safely and that user funds remain secure.

A Distributed Denial-of-Service attack is a malicious attempt to disrupt normal web traffic and overwhelm a target with a flood of Internet requests. This type of cyberattack can temporarily or indefinitely interrupt or suspend the services of a host connected to the Internet, posing a substantial threat to digital infrastructures like Manta Network.

Manta Coin price

Following the attack, the Manta Network has declined by 7% in the past 24 hours, with its token valued at $2.11 at the time of writing.

However, the incident has not dampened the spirit of Manta Network’s team, which extends gratitude to its community for support and reassurance. The team is focused on enhancing the network’s resilience against future threats and restoring normalcy.

Nonetheless, Manta Network’s journey has been marked by significant achievements, including a successful $25 million Series A funding round by P0xeidon Labs and the launch of its Layer 2 infrastructure, Manta Pacific. The network has processed over 3.5 million transactions and created 150,000 wallets during its testnet phase. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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