🌟 Title: "Manta Network Faces DDoS Attack During Token Launch

➡️Introduction:

Manta Network, a burgeoning blockchain platform, encountered a distributed denial of service (DDoS) attack during the launch of its MANTA token. Despite reaching a noteworthy $550 million capitalization post-launch, the network faced challenges with prolonged withdrawal times and network sluggishness.

➡️DDoS Impact:

The DDoS attack caused a backlog of transactions, leading to extended processing times and increased gas fees. Manta developers acknowledged the issue and are actively working to address it. The attack coincided with the initial token issuance event, impacting communication between the blockchain and native applications.

➡️Security Assurance:

Co-founder Kenny Li reassured users that all funds remained secure, and the blockchain continued to operate normally, aside from the communication limitations. The attack did not compromise the integrity of Manta's infrastructure.

➡️Context in Blockchain Landscape:

Manta Network is part of a growing wave of blockchain platforms aiming to provide faster transactions at lower costs compared to established networks like Ethereum. These platforms, backed by prominent funds, strategically market themselves in the crypto space, seeking to gain market share and increase token value.

➡️Market Response:

Despite the challenges, MANTA token experienced a significant 25% surge post-issuance, resulting in a market capitalization nearing $550 million by Friday. Manta had previously attracted almost $1 billion worth of ether (ETH) for its layer-2 network, New Paradigm, primarily through an airdrop program for platform fund transfers.

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