Manta Network Faces DDoS Attack and Money Laundering Accusations During Token Listing

The Manta Network Faces DDoS Attack During MANTA Token Issuance

A few days ago, the Manta Network, a blockchain infrastructure, experienced a DDoS (Distributed Denial of Service) attack on its RPC nodes during the issuance event of its MANTA token. A DDoS attack involves flooding a network with fake requests, causing servers to become overwhelmed and preventing users from communicating. The attack targeted the RPC nodes with 135 million requests, leading to transaction delays and increased gas fees. Despite the hack, the MANTA token was successfully listed on Binance exchanges, Bithumb, Bybit, and Kucoin.

Manta Team Accused of Money Laundering

Amidst the DDoS attack controversy, some users accused the Manta team of money laundering. This accusation stemmed from a suspicious transfer of 2 million MANTA tokens from a team member’s wallet to the Bithumb exchange shortly before the network experienced slowdowns. The tokens were sold at a significantly higher price than their listing price on Bithumb, raising concerns about market manipulation. The team defended themselves by claiming that the tokens were transferred for liquidity purposes. However, doubts remain about the sudden conversion of these funds. Co-founder Kenny Li addressed the situation and expressed gratitude for the team’s efforts in resolving the crisis.

Hot Take: Manta Network Faces DDoS Attack and Money Laundering Accusations

The Manta Network recently encountered a DDoS attack during the issuance of its MANTA token. The attack targeted RPC nodes, causing transaction delays and increased gas fees. Despite this setback, the token was successfully listed on various exchanges. In addition to the hack, the Manta team faced accusations of money laundering after a suspicious token transfer to Bithumb. The team defended themselves, but doubts remain within the crypto community. It remains to be seen how the South Korean authorities will respond to these allegations. Overall, it has been a challenging time for Manta, but the team has shown resilience in handling the situation.