Ethereum

Manta Network

MN Coin

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/manta-network-faces-money-laundering-allegations-and-ddos-attack-after-exchange-listings" rel="noopener noreferrer nofollow">Manta Network Faces Money Laundering Allegations and DDoS Attack After Exchange Listings</a> 
Manta Network, a Layer 2 Blockchain leveraging Zero-Knowledge (ZK) technology, was listed on major cryptocurrency exchanges such as Binance, Bithumb, and KuCoin. On the same day, it came under scrutiny in South Korea for alleged money laundering activities, reportedly conducted through the Bithumb exchange. This followed a Distributed Denial of Service (DDoS) attack on the network.
A DeFi expert in South Korea revealed that approximately 2 million MANTA tokens were transferred to the personal wallet of Manta Network’s Korean Business Development (BD) representative. This transaction occurred on the day MANTA was listed on exchanges after the completion of Binance Launchpool.
Subsequently, 2 million MANTA tokens were deposited into a Bithumb wallet, representing over 75% of the exchange’s circulation volume at the time. Within five minutes of listing, MANTA’s price on Bithumb surged to $230, over 100 times the opening price of $2.26.
The Korean BD then suspiciously sold all 2 million MANTA tokens at a premium of 50 to 100 times the listing price. The proceeds, worth $5.16 million, were converted into <a href="https://en.bitcoinhaber.net/ethereum-innovation-attracts-attention-clave-spearheads-milestone-enhancement-with-eip-7212" rel="noopener noreferrer nofollow">Ethereum</a> (ETH), purchasing 2,094 ETH, which were traced to the BD’s personal wallet.
South Korea, known for strict regulations on money laundering and financial transactions, may impose severe penalties if these allegations are confirmed. The actions of the Korean BD have raised serious concerns in the crypto community, but the Manta Network team has denied all allegations.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/manta-network-faces-money-laundering-allegations-and-ddos-attack-after-exchange-listings" rel="noopener noreferrer nofollow">Manta Network Faces Money Laundering Allegations and DDoS Attack After Exchange Listings</a></h5>

Manta Network Faces Money Laundering Allegations and DDoS Attack After Exchange Listings

BH NEWS

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