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:

Tags

Upcoming Events

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

article-image

Judge Analisa Torres said the parties have not demonstrated that vacating her prior ruling is in the best interest of the public

article-image

Prediction markets have found a mainstream fit

article-image

Money for enemies isn’t fun, but crypto can be

article-image

Onchain SOL perps wiped $31 million, outpacing CEX volumes two days in a row

article-image

Fed Chair Jerome Powell told Senators Wednesday that the timeline on lowering interest rates is up in the air

article-image

Credit infrastructure DeFi protocol Grove makes allocation into a CLO segment “ripe for movement into DeFi”