Manta Network Faced A “DDoS” Attack During Token Issuance

On January 19, 2024, Manta Network, an ecosystem for zero-knowledge applications, faced a DDos attack at the time of issuance of the Manta tokens. This attack slowed down the network and expanded the time of withdrawals.

The DDos Attack

A DDoS attack is a harmful act that aims to disable or take down an online resource by bombarding it with useless requests, fake packets, or other malicious traffic from multiple sources.

As per the post by Manta Network on the social media platform X (formerly Twitter), the attack increased both the transaction time and the gas prices on the Network. However, the team said they were working on resolving this problem.

“Because of yesterday’s DDoS attack, the network has accumulated a large queue of recent transactions. This is leading to longer transaction times and impacts on gas fees. We are aware of this issue and are working to resolve it.”, the team added. 

Manta’s Co-founder Kenny Li Awares Users About DDoS

Moreover, after this whole incident, Manta’s co-founder Kenny Li explained to the users in the post that the attack was well-planned and executed in a timely manner. Moreover, the timing of the TGE event and the attack was the same, and since then, 135 Million requests smashed the RPC nodes and this indicates that the attack was very aggressive.

Moreover, he assured users that the blockchain is running safely, that product production is also going normally, and that the funds are safe.

Furthermore, Kenny Li also spread awareness to users of the distributed denial of service attack (DDoS) and its effects. Afterward, Kenny expressed gratitude towards the users for their support during difficult times.

He also pointed out that the company has been operating for the past three years and 60 people across the world are contributing to this project.  Manta network is the pioneer ZK-application platform that can match EVM in performance and security, thanks to Celestia DA and Polygon zkEVM.

The network also has Manta Pacific and Manta Atlantic. Manta Pacific is a Layer 2 ecosystem on Ethereum while Manta Atlantic is a fast ZK Layer 1 chain on Polkadot. Moreover, the network is developed to offer on-chain privacy for NFTs and DeFi.

Manta uses zero-knowledge proofs (ZKPs) via its Manta Protocol to allow confidential transactions that only show their correctness without disclosing extra data. The network also hides wallet addresses and uses encryption on the device to safeguard user privacy for DeFi operations.

Despite the DDoS attack, MANTA surged 25% after the launch, earning Manta a valuation of more than $550 million, as per CoinGecko. The network’s incentives and airdrop rewards drew a lot of attention, bringing in nearly $1 billion in ETH deposits for its layer-2 network.

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.