Despite a cyber attack amid a token listing, Manta Network's swift action protects users and sees growth in its blockchain ecosystem.
The Manta Network, a blockchain platform known for its privacy features using zero-knowledge proofs, recently faced a Distributed Denial of Service (DDoS) attack that temporarily disrupted its services.
On January 18, Manta Network was targeted by a DDoS attack, an aggressive attempt to overwhelm the network with a flood of internet traffic. This attack coincided with a significant milestone for the network: the listing of its token on major cryptocurrency exchanges such as Binance, Bithumb, and KuCoin. Despite the timing and potential severity of the attack, the co-founder of Manta Network reassured users that the blockchain and their funds remained secure throughout the ordeal. The services were swiftly restored, and the network resumed normal operations.
The attack occurred just a day after the issuance of Manta Network's MANTA token, which led to a backlog of transactions, longer withdrawal times, and temporarily increased gas fees. Nonetheless, the blockchain's robust design ensured that it continued to function, and all user funds were protected. The MANTA token, despite the attack, experienced a surge in value, increasing by 25% and reaching a market cap of nearly $550 million.
Even in the face of adversity, Manta Network has demonstrated significant growth. Its layer-2 infrastructure, Manta Pacific, has seen its Total Value Locked (TVL) soar to $858 million. Additionally, Manta Atlantic, the network's Non-Fungible Token (NFT) platform, has minted over 300,000 tokens. The demand for the MANTA token remained strong, achieving a $573 million market cap, which is a testament to the confidence investors have in the platform's potential and security measures.
The quick recovery and communication from the Manta Network team highlight the importance of having robust security protocols and a responsive support system in place. For users and investors, the incident underscores the need to stay informed about the platforms they use and the security measures they employ.
