Manta Network Suffers DDoS Attack Shortly After Exchange Listing

Layer-2 blockchain Manta Network suffered a DDoS attack shortly after successfully listing its Manta token on multiple exchanges.

In an X post published on January 18, Kenny Li, co-founder of the Manta Network, noted that the blockchain experienced a widespread DDoS attack at 9:30AM UTC.

Li said that the attack consisted of blockchain’s nodes experiencing over 135 million remote procedure call (RPC) requests.

“This is a very aggressive and timed attack,” said Li, adding that “communication between apps and the blockchain is severely limited” for the time being.

However, he reassured users that “the blockchain is running safely” and “funds are safe.”

Li stated that the Manta Network team is presently focused on developing additional DDoS mitigation efforts, and is also in communication with partners and service providers to implement counteractive measures.

He added that the resolution of the hack was “taking longer than usual” as the “attack is much larger than normal and the duration is also much longer than normal.”

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

Manta Begins Trading

Earlier today, Manta tokens began trading on multiple crypto exchanges, such as Binance, KuCoin, and Bithumb.

At time of writing, Manta’s native token is trading at $2.15, with a fully diluted market cap of around $2.15 billion, according to CoinMarketCap.

The Manta token has seen almost $800 million in trading volume in the past 24 hours.

In July 2023, P0xeidon Labs, the cryptographic development team behind Manta Network, announced it had raised $25 million in a Series A funding round. Polychain Capital and Qiming Venture Partners led the funding round, which valued the project at $500 million.

The company also rolled out the testnet for its layer-2 infrastructure, Manta Pacific, which transitioned to mainnet in September 2023. The testnet launch in July 2023 resulted in the creation of 150,000 wallets and over 3.5 million transactions.