As the startup blockchain Manta Network released its MANTA currency, it was subjected to a distributed denial of service (DDoS) attack, which caused the network to lag and cause withdrawal times to be longer than anticipated.
The Manta developers stated in an X post that “the network has accumulated a large queue of recent transactions.” “This has an effect on petrol prices and lengthens transaction times. We are investigating this matter and are aware of the problem.
DDoS is a popular attack method when an attacker overloads a server with internet traffic in an attempt to stop users from visiting linked websites and online services.
The incident happened near Manta’s first token issuing ceremony, according to a post by co-founder Kenny Li. He stated that although there was “severely limited” connectivity between the blockchain and native apps, all monies were secure and the blockchain generally functioned as intended.
Manta is the most recent in a growing number of new blockchains that provide cheaper, faster transactions than well-known networks like Ethereum. These more recent networks, which are typically supported by well-known funds, actively promote their blockchain in cryptocurrency communities on X and other social media sites in an effort to gain market share and fees that will increase the value of their tokens.