Manta Network Faces Money Laundering Allegations
Manta Network, recently listed on Bithumb, is under scrutiny for potential money laundering activities. These allegations are based on a Twitter user’s claims regarding suspicious transactions and token sales.
Manta Network’s Rocky Start
One particular transaction involved the transfer of 2 million MANTA tokens to Manta Network’s Korean Business Development personal wallet. The authenticity of this wallet has not been verified. These tokens were then reportedly deposited into a Bithumb wallet, accounting for a significant portion of the token’s circulation volume.
Shortly after listing, the price of MANTA surged to 300,000 KRW but quickly dropped back to its current trading level of 3,000 KRW.
Bad Actors Target Binance Launchpool Projects
In addition to the money laundering allegations, Manta Network also experienced a Distributed Denial-of-Service (DDoS) attack. Over 135 million RPC requests bombarded the network’s nodes. However, the network has since resumed normal operations and assured users of fund safety.
This incident is not an isolated case for Binance Launchpool. Previous instances involved scammers launching fake tokens ahead of their official debuts, resulting in significant financial losses for investors.
Hot Take: Challenges for Binance Launchpool Projects
Binance Launchpool projects like Manta Network face numerous challenges and controversies. The recent money laundering allegations and DDoS attack highlight the risks associated with participating in these projects. Investors must exercise caution and conduct thorough research before getting involved with any launchpool offerings.
By
By
By
By