The Manta Network has suffered a distributed denial of service (DDoS) attack at the time of its token generation event (TGE). The attackers sent more than 135 million requests to Manta’s remote procedure call (RPC) servers, resulting in degraded performance and delayed withdrawals.
A distributed denial of service (DDoS) attack is an attempt to disrupt the operation of a computer system (usually a website or other online service) by hijacking a large number of innocent peoples’ computers or phones and using them to send millions of requests to the server being targeted.
The goal of the attack is to overwhelm the server with traffic until service is disrupted or compromised. The attack occurred at 9:30 AM UTC, which was when the TGE (token issuance event) for the MANTA token occurred. Token issuance events like these often serve the purpose of funding the network to sustain its operation.
Manta stated that the token serves the purpose of funding growth initiatives and investments. The price of the MANTA token still grew by 25% following the attack.