Manta Network Weathers DDoS Attack Amid Successful Token Listing and Milestone Achievements
Summary:
Manta Network, a layer-2 blockchain using zero-knowledge proof, endured a major DDoS attack as its token was successfully listed on several exchanges. Despite the attack, the network's co-founder, Kenny Li, assured its safe operation and the security of funds. p0x labs, the developing team behind the Manta Network, also reported raising $25 million in a Series A funding round. The company additionally launched the testnet of its layer-2 infrastructure, Manta Pacific, which later went live. Manta Atlantic's flagship NFT private offering platform has minted over 300,000 zero-knowledge tokens since its launch.
Manta Network, a layer-2 blockchain that uses zero-knowledge proof, was the target of a large-scale distributed denial-of-service (DDoS) attack around the same time its token was successfully listed on several trading platforms. Kenny Li, one of the founding members of cryptographic development firm p0x labs which is responsible for Manta Network, explained that the network's nodes underwent in excess of 135 million RPC (remote procedure call) requests on January 18. Li described this as an especially aggressive, precisely-calibrated attack. Nevertheless, he reassured that the blockchain is functioning securely and safely, with all funds are unaffected. However, the current connectivity between apps and the blockchain is considerably restricted. "Despite this," he said, "we are here to stay. We've been building for three years without seeing an end in sight, and we truly appreciate the continued support from our community."
Simultaneously, on the day of the DDoS attack on Manta Network, Manta tokens kicked off their trading on several platforms (Binance, Kucoin, and Bithumb among them). Presently, the value of a single Manta token stands at $2.27, reflecting a fully diluted market capitalization of $2.27 billion. In the initial hours of trading, Manta tokens worth over $686 million changed hands.
On the 19th of July, 2023, it was reported by Cointelegraph that p0x labs garnered $25 million during its Series A investment round. The company also revealed the testnet for its layer-2 solution, Manta Pacific, which went live on mainnet on September 12, 2023. The July 2023 unveiling of the testnet was accompanied by the creation of 150,000 wallets and more than 3.5 million transactions. Concurrently, Manta Atlantic, the firm's premium NFT private offering platform presented in April 2023, has so far minted over 300,000 zero-knowledge soulbond tokens across substantial ecosystem partners like Linea, Arbitrum, Galxe, and CyberConnect.
Relating: Manta Pacific, with its ZK focus, opted not to join OP Stack, choosing instead to join Polygon CDK.
Published At
1/18/2024 5:42:21 PM
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