The Layer-2 blockchain network Manta Network, which employs zero-knowledge proofs, experienced a widespread distributed denial of service (DDoS) attack during a successful token listing on multiple exchanges. The attack halted network block production, preventing many users eligible for an airdrop event from claiming their tokens. Measures to address the issue have not been disclosed.
Kenny Li, co-founder of P0xeidon Labs, the cryptographic development team behind Manta Network, reported that on January 18, the blockchain was bombarded with over 135 million remote procedure call (RPC) requests. Li assured that the blockchain was operating securely and funds were safe, despite severely limited communication between applications and the blockchain network.
Li emphasized the team’s commitment: “Rest assured we are not going anywhere. We’ve been building for three years and don’t see an end in sight. Thank you very much for your support as a community.”
On January 18, the Manta token began trading on several exchanges, including Binance, Bithumb, and KuCoin. At the time of writing, the Manta token was valued at $2.27, indicating a market cap of $2.27 billion, with over $686 million worth of tokens traded in the initial hours.
P0xeidon Labs raised $25 million in a Series A funding round on July 19, 2023, and introduced the testnet of Manta Pacific, the Layer-2 infrastructure, on September 12, 2023. The testnet launch in July 2023 saw 150,000 wallets conducting over 3.5 million transactions. Additionally, Manta Atlantic’s flagship NFT platform, launched in April 2023, has since released over 300,000 zero-knowledge supported NFTs in collaboration with significant ecosystem partners such as Arbitrum, Galxe, Linea, and CyberConnect.
