LONDON - Manta Network, a prominent blockchain scaling solution, faced a distributed denial-of-service (DDoS) attack today, coinciding with the listing of its MANTA token on major cryptocurrency exchanges including Binance. Despite the cyber attack, the network successfully maintained its operational integrity and safeguarded user assets.
The introduction of the MANTA token to exchanges initially resulted in a price surge. However, the token's value experienced a downturn, dropping by over 5%, following a controversial move by the project's Korean Business Development representative. The representative sold 2 million MANTA coins, converting them into a substantial amount of Ether.
Even with the price volatility and the attack, Manta Network continues to hold a significant position in the market, boasting a market capitalization exceeding $533.99M post-incident. The network is acknowledged for its high total value locked (TVL), underscoring its status as a key player in the blockchain scalability arena.
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