Manta Network harmed by DDoS attack during token issuance

Its developer team is actively working on resolving congestion issues on Manta Network

article-image

Artwork by Crystal Le

share

Manta Network, a modular ecosystem for zero-knowledge (zk) applications, suffered a distributed-denial-of-service (DDoS) attack during the issuance of the Manta (MANTA) token to its community.

DDoS attacks are malicious attempts to disrupt server traffic, often through overwhelming target infrastructure, leading to slower processing times. 

“Yesterday, we saw network disruption caused by a distributed denial of service (DDoS) attack that happened at 9:30 am UTC, the same time as our token generation event (TGE) where we saw over 135 [million] requests hit our remote procedure call (RPC) nodes,” Kenny Li, core contributor and co-founder of Manta, told Blockworks.

Read more: The 5 biggest DeFi hacks of 2023

According to a post by Manta Network on X, this attack has led to longer transaction times and increased gas prices on the network. The team indicated that it is actively working on resolving this issue.

Loading Tweet..

“Given that we were hit by over 135 [million] transactions in a short period of time on our RPC nodes, we have increased the security round of our DDoS integration. Due to the nature of this type of attack, the congested transactions will be resolved over a period of time,” Li said. 

Manta’s Token Generation Event (TGE) saw an initial circulating supply of 251 million MANTA tokens being distributed to advisors and ecosystem and community members. The total supply of MANTA tokens at Genesis will be 1 billion MANTA, with a 2% yearly minting rate.

Initially, after the launch, the price of the MANTA token was trading at roughly $2.70, according to information available on CoinGecko. Following the news of the attack, the token price dropped by 22%, trading at $2.08.

At the time of writing, Manta Network’s MANTA token is trading at $2.27 with a market cap of $570 million. 


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Bluefin possibly stands at an inflection point. The token is near an all-time low yet the protocol’s spot volume market share and derivatives exchange usage have been increasing month over month since its November launch. Given its current market position and the upcoming upgrades (for both Bluefin and SUI), there may be upside potential before the increased supply growth in December. However, strong opposition from existing competitors (like Cetus and Suilend), as well as new entrants (like Aftermath), pose key challenges to Bluefin’s medium-term success.

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens