Manta Network, a layer-2 blockchain powered by zero-knowledge proofs, recently faced a significant distributed denial-of-service (DDoS) attack while simultaneously enjoying a successful token listing on various exchanges.
The attack occurred on January 18 but has since been successfully resolved.
Kenny Li, one of the co-founders of P0xeidon Labs, the cryptographic development team responsible for Manta Network, reported that the blockchain’s nodes endured an onslaught of over 135 million remote procedure call (RPC) requests during the attack.
He described it as a “very aggressive and timed attack.” Fortunately, Li reassured the community that the blockchain’s security remained intact, and users’ funds remained safe.
However, the attack temporarily disrupted communication between apps and the blockchain.
Despite the challenges, Li expressed gratitude for the community’s support and emphasized their commitment to the project, noting that they had dedicated three years to its development.
Simultaneously, Manta tokens were listed on several prominent exchanges, including Binance, Bithumb, and KuCoin.
The Manta token’s initial trading price stood at $2.27, reflecting a fully diluted market capitalization of $2.27 billion.
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In the first few hours of trading, over $686 million worth of Manta tokens changed hands.
A spokesperson for Manta Network disclosed that Manta Pacific, another component of the project, experienced a remarkable 70x increase in total value locked (TVL) during the past quarter, reaching a value of $858 million.
Furthermore, the project announced an airdrop equivalent to 5% of Manta’s total supply, valued at $114 million, for ecosystem users and supporters.
Back in July 2023, Cointelegraph reported that P0xeidon Labs successfully raised $25 million in its Series A funding round.
Additionally, the team introduced the testnet for Manta Pacific, its layer-2 infrastructure, which transitioned to the mainnet on September 12, 2023.
The testnet launch in July 2023 led to the creation of 150,000 wallets and facilitated over 3.5 million transactions.
In a parallel development, Manta Atlantic’s flagship nonfungible token private offering platform made its debut in April 2023.
Since then, it has minted over 300,000 zero-knowledge soulbound tokens in collaboration with key ecosystem partners, including Arbitrum, Galxe, Linea, and CyberConnect.
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