Token

Manta Network

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MN Coin

<ul>
 <li>Manta Network’s MANTA token soars over 4000% post-listing on Binance.</li>
 <li>Allegations of money laundering surface, pointing to suspicious token transactions.</li>
 <li>Detailed examination of transactions raises concerns about the project’s integrity.</li>
</ul>
In the midst of Manta Network’s celebratory moment for successfully listing its token MANTA on major exchanges like Binance and KuCoin, a cloud of suspicion looms over the project. Despite the token’s price <a href="https://www.binance.com/en/price/manta-network" target="_blank" rel="noopener noreferrer nofollow">soaring over 4000%</a>, reaching $2, and <a href="https://cryptonews.com/news/manta-network-suffers-ddos-attack-shortly-after-exchange-listing.htm" target="_blank" rel="noopener noreferrer nofollow">overcoming a DDOS attack</a> during its launch, accusations of potential money laundering have emerged.
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 . <a href="https://twitter.com/MantaNetwork?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MantaNetwork</a> was suspected of money laundering through Bithumb on the day of listing – 2M <a href="https://twitter.com/search?q=%24MANTA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$MANTA</a> transferred to personal wallet of MANTA’s Korean BD – 2M <a href="https://twitter.com/search?q=%24MANTA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$MANTA</a> was deposited into Bithumb deposit wallet, accounting for more than 75% of Bithumb’s total circulation volume. -… <a href="https://t.co/uMWq6J6D37" rel="noopener noreferrer nofollow">pic.twitter.com/uMWq6J6D37</a>— Definalist (@definalist) <a href="https://twitter.com/definalist/status/1748046680371691857?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 18, 2024</a>
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The controversy arose from a post in Manta’s Korean Telegram group, alleging a suspicious transaction involving MANTA tokens on the day of listing. The post claims that 2 million $MANTA was transferred to the personal wallet of MANTA’s Korean Business Development (BD) representative. Subsequently, the tokens were deposited into Bithumb’s wallet, constituting more than 75% of Bithumb’s total circulation volume.
Within just five minutes of listing, the price of MANTA on Bithumb surged to $230. The BD representative allegedly sold the entire 2 million MANTA tokens at 50~100x the listing price, converting the proceeds to Ethereum. The Ethereum, totaling 2,094.7 ETH and valued at $5,162,112, was then transferred to the BD representative’s personal wallet.
Proof of these transactions was provided through an <a href="https://etherscan.io/address/0x9670359ce856771369ad04a67dd6cf276b9fe8af" target="_blank" rel="noopener noreferrer nofollow">Etherscan link</a>. The post concludes by highlighting the <a href="https://cryptonewsland.com/north-korean-hackers-keep-hacking-the-crypto-space-reuters-reports/" target="_blank" rel="noopener noreferrer nofollow">strict regulations in South Korea</a> regarding money laundering and real-name financial transactions. If the accusations are valid, severe penalties could be enforced.
The wallets involved in the suspicious transactions are identified as 0x9670359ce856771369ad04A67DD6cF276b9fE8aF (BD wallet) and 0x6aedc8c2c8c61a3a34c23520001489b843a10555 (Manta distribution wallet). The unfolding situation raises concerns about the <a href="https://cryptonewsland.com/south-koreas-police-agency-strengthens-crypto-crime-crackdown/" target="_blank" rel="noopener noreferrer nofollow">potential repercussions</a> for Manta Network in the face of these serious allegations.
Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of <a href="https://cryptonewsland.com/" target="_blank" rel="noopener noreferrer nofollow">CryptoNewsLand (CNL)</a>. No information in this article, whether express or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers to perform their own in-depth research before investing in cryptocurrency.
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The post <a href="https://cryptonewsland.com/money-laundering-suspicions-shroud-manta-network-amid-token-success/" rel="noopener noreferrer nofollow">Money Laundering Suspicions Shroud Manta Network Amid Token Success</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Money Laundering Suspicions Shroud Manta Network Amid Token Success

Crypto News Land

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