Manta Network Resumes Normal Operations Despite DDoS Attack
Manta Network has successfully resumed normal operations after overcoming technical issues, as reports of money laundering involvement emerge.
DDoS Attack Disrupts Manta Network’s Token Generation Event
On Jan. 18, the Manta network experienced a DDoS attack that temporarily disrupted its operations. The attack coincided with the network’s Token Generation Event (TGE), following an earlier RPC flood.
Manta Network Assures Blockchain Security and Fund Safety
Despite the DDoS attack, Manta Network confirmed that its blockchain remains secure and that block production and fund safety are unaffected. However, communication between applications and the blockchain was severely hampered.
RPCs Fully Operational, Minor Connectivity Issues Expected
The network’s RPCs are now fully operational, ensuring the safe running of the blockchain and normal product production. Users may still encounter minor connectivity issues with some applications, but these are expected to be temporary.
Manta Network Works to Address Transaction Queue and Performance Issues
Manta Network is actively working to address the accumulation of a large transaction queue, which has led to longer transaction times and impacts on gas fees. The team is dedicated to restoring normal network performance.
Allegations of Money Laundering Surround Manta Network
Manta Network faces allegations of money laundering after a transfer of 2 million MANTA tokens to the personal wallet of its Korean Business Development representative. This transfer significantly influenced Bithumb’s total circulation volume and was followed by a premium sale of all 2 million tokens by the Korean BD.
Manta Network Clarifies Money Laundering Allegations
Manta Network issued a statement clarifying the transaction as part of their operational strategy. The allocation of community funds to the Korean BD was in line with their token economic model and aimed to establish a branch in South Korea. Manta Network also announced plans to expand its presence in Asia with a new branch in Hong Kong.
Hot Take: Manta Network Overcomes Technical Challenges and Faces Money Laundering Allegations
Manta Network has successfully resolved technical issues following a DDoS attack. Despite the attack, the blockchain remains secure and operational, with normal product production and fund safety. However, communication between applications and the blockchain was affected. The network’s RPCs are now fully operational, but minor connectivity issues may still occur. Manta Network is actively addressing transaction queue and performance issues to restore normal network operations. Additionally, the network is facing allegations of money laundering related to a transfer of tokens and subsequent sale on Bithumb. Manta Network has clarified these allegations as part of their operational strategy to establish branches in South Korea and Hong Kong.
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