- Manta Network, a layer-2 blockchain, experienced a distributed denial-of-service attack, causing network delays and affecting withdrawal processes.
- The attack, which targeted over 135 million remote procedure call requests, led to performance fluctuations and throughput issues.
- The attack was acknowledged by Manta developers, who reassured users that their funds were secure.
- The network, which focuses on zero-knowledge application development, comprises Manta Pacific and Manta Atlantic.
Manta Network, a layer-2 blockchain, faced a challenging situation when it encountered a distributed denial-of-service (DDoS) attack recently, causing delays in the network and affecting withdrawal processes. The incident was officially acknowledged by Manta developers, who highlighted the impact of the attack and reassured users that they are actively working to address the issues. The identity of the threat actor behind the attack remains unknown at this time.
Kenny Li, co-founder of P0xeidon Labs, the cryptographic development team behind Manta Network, shared that the network experienced over 135 million remote procedure call (RPC) requests on January 18. This surge in requests led to performance fluctuations and throughput issues, causing a widespread slowdown in the network. Despite the “very aggressive and timed” nature of the attack, Kenny Li assured users that their funds are secure, and the blockchain is operating safely.
Manta Network is an innovative modular blockchain protocol with a focus on zero-knowledge (ZK) application development. It comprises Manta Pacific, a Layer 2 ecosystem on Ethereum, and Manta Atlantic, a fast ZK Layer 1 chain on Polkadot. The network’s goal is to provide on-chain privacy for decentralized finance and non-fungible tokens (NFTs).
Using zero-knowledge proofs (ZKPs) through its Manta Protocol, the network enables private transactions that reveal only their validity without exposing additional information. Manta Network enhances user privacy in decentralized finance activities by obscuring wallet addresses and employing on-device encryption.
The governance token of Manta Network, $MANTA, allows holders to participate in guiding improvements, voting on proposals, and influencing the direction of the privacy-focused protocol.
In response to the DDoS attack, communication between the blockchain and applications was severely limited, according to Kenny Li. Questions arose about a transfer of approximately 2 million MANTA tokens to a wallet allegedly associated with Manta Network’s Korean Business Development representative. The transfer coincided with the MANTA token’s listing on Binance the previous week, but details connecting the wallet holder’s identity remain unconfirmed. The Network clarified that the funds were intended for investments and growth initiatives within its Korean community.
Despite the disruption, MANTA prices surged by 25% following the token issuance, pushing Manta’s market cap to over $550 million. The network’s strong initial interest, driven by incentives and airdrop rewards, has attracted nearly $1 billion in ETH deposits for its layer-2 network, New Paradigm.