• Manta Network (MANTA) price slips amid disruptive DDoS attack.
• Network is experiencing longer transaction times and increase in gas fees.
• MANTA price reached highs of $2.72 after its Token Generation Event (TGE) but was down to $2.13

Manta Network debuted its MANTA token on exchanges on Thursday, with the listing on Binance, BingX, MEXC among others seeing its value skyrocket to above $2.72.

The token is however 20% down since that peak as the team acknowledged a distributed denial of service (DDoS) attack. The DDoS attack coincided with the Layer 2 modular blockchain’s Token Generation Event (TGE) on January 18. The attack flooded the network with more than 135 million fake RPC requests.

DDoS Attack Update on @MantaNetwork
Hey everyone, we are experiencing a calculated DDoS attack on the network. This happened at 9:30AM UTC, exactly the same time as our TGE event. Since that time, we have seen over 135m requests hit the RPC nodes, which indicates that this is a… pic.twitter.com/EgjUiOvRl0

— 🤓Kenny.manta 🦇🔊 (🔱,🔱) (@superanonymousk) January 18, 2024

On Friday, the Manta team posted on X that following the DDoS attack, the network was experiencing transaction delays. The accumulation of large queues of transactions was also impacting gas fees, the platform said.

“Because of yesterday’s DDoS attack, the network has accumulated a large queue of recent transactions. This is leading to longer transaction times and impacts on gas fees. We are aware of this issue and working to resolve it,” a statement the blockchain platform posted on Friday stated.

MANTA price was down to $2.13 at the time of writing.