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MANTA Token Value Surges 25%, but Manta Network Faces DDoS Woes
Following the successful launch of Manta Network’s MANTA token, the cryptocurrency experienced a noteworthy 25% increase in value. However, the celebratory mood was short-lived as the company fell victim to a Distributed Denial of Service (DDoS) attack shortly after the token release. This malicious attack resulted in delays for withdrawals and a noticeable slowdown in the network. Developers are actively addressing these issues arising from the surge in transaction volume associated with the token release.
Understanding DDoS Attacks: Disruption in the Wake of Manta Token Success
A DDoS attack, or Distributed Denial of Service attack, occurs when a server is overwhelmed with excessive internet traffic, disrupting online services. In the case of Manta Network, this attack unfolded shortly after the launch of their inaugural token, as confirmed by co-founder Kenny Li. While communication was hampered, and the network experienced slowdowns, it’s reassuring to note that all funds remain secure despite the disruptive incident.
MANTA’s Surging Success: Riding the Wave of Next-Gen Blockchains
Manta Network, a key player in the emerging era of blockchains aiming for faster and more cost-effective transactions than established networks like Ethereum, is making significant strides. In the competitive landscape where these new-generation blockchains are backed by substantial funds and actively promote their technology online, Manta Network has garnered attention.
Manta Network Hit by DDoS Attack amid Its Token Debut on Exchanges 🤔 https://t.co/7K5aL9sByQ#NFTCommunity #CryptoNews #DigitalAssets #MANTA #blockchain
— Lman01 (@MultiByteAssets) January 19, 2024
Following the successful launch of its MANTA token, the cryptocurrency experienced an impressive 25% surge in value, pushing its market capitalization to approximately $550 million. Notably, Manta had previously secured nearly $1 billion in ether (ETH) for its project, New Paradigm.
This substantial backing was partially attributed to a special airdrop designed to incentivize users to transfer funds to the Manta platform. The remarkable market response underscores the growing enthusiasm and support for Manta Network’s innovative approach within the blockchain space.
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