MANTA Token Price Drops 22% After DDoS Attack on Manta Network

Manta Network suffered a Distributed Denial of Service (DDoS) attack while distributing MANTA tokens to the community.DDoS attacks are malicious attempts to disrupt server traffic by overwhelming a target's infrastructure, resulting in slower processing times.A post from Manta Network indicates that the attack resulted in longer network transaction times and an increase in the price of Gas. The team says it is actively working to resolve the issue.The MANTA Token Giving Event (TGE) distributed 251 million MANTA tokens to advisors, ecosystem and community members. After the initial offering, the MANTA token price was approximately $2.70. Following news of the attack, the token price fell 22 per cent to trade at $2.08. At press time, Manta Network's MANTA tokens were trading at $2.27, with a market capitalisation of $570 million.