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- 1 Manta Network, a platform for zero-knowledge applications, faced a DDoS attack during its token issuance event.
- 2 The team said they were working to fix the issue, which caused longer transaction times and higher gas fees.
- 3 Manta’s co-founder Kenny Li said the attack was well orchestrated and coincided with the TGE event.
On January 19, 2024, Manta Network an ecosystem for zero-knowledge applications faced a DDos attack at the time of issuance of the Manta tokens. This attack slows down the network and expands the time of withdrawals.
The DDos attack
A DDoS attack is a harmful act that aims to disable or take down an online resource by bombarding it with useless requests, fake packets, or other malicious traffic from multiple sources.
As per the post by the Manta Network on the social media platform X (formerly Twitter), the attack increased the transaction time and inclined the gas prices on the Network. However, the Manta team said they were working on resolving this problem.
“Because of yesterday’s DDoS attack, the network has accumulated a large queue of recent transactions. This is leading to longer transaction times and impacts on gas fees. We are aware of this issue and are working to resolve it.”, the team added.
Manta’s Co-founder Kenny Li Awares Users About DDoS
Moreover, after this whole incident, Manta’s co-founder Kenny Li explained to the users in the post that the attack was well planned and timely executed. Moreover, the timing of the TGE event and the attack is the same, and from that time 135 Million requests smashed the RPC nodes and this indicates that the attack was very aggressive.
Moreover, he ensures the users that the blockchain is running safely, that product production is also going normally, and that the funds are safe.
Furthermore, Kenny Li also Aware users of the distributed denial of service attack (DDoS) and its effects. Afterward, Kenny expressed gratitude towards the user for their support during the hard times.
He also described that the company has been operating for the past three years and 60 people across the world are contributing to this project.
Manta network is the pioneer ZK-application platform that can match EVM in performance and security, thanks to Celestia DA and Polygon zkEVM.
The network also has Manta Pacific and Manta Atlantic. Manta Pacific is a Layer 2 ecosystem on Ethereum and Manta Atlantic is a fast ZK Layer 1 chain on Polkadot. Moreover, the network is developed to offer on-chain privacy for NFTs and Defi.
Manta uses zero-knowledge proofs (ZKPs) via its Manta Protocol to allow confidential transactions that only show their correctness without disclosing extra data. The network also hides wallet addresses and uses encryption on the device to safeguard user privacy for DeFi operations.
Despite the DDoS attack, MANTA surged 25% after the launch, earning Manta a valuation of more than $550 million, as per CoinGecko. The network’s incentives and airdrop rewards drew a lot of attention, bringing in nearly $1 billion in ETH deposits for its layer-2 network.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
