The team behind Manta Network, a zero-knowledge level (L2) blockchain, was suspected of money laundering through the listing of MANTA tokens on major exchanges Binance, Bithumb and KuCoin.
For the first time, accusations of suspicious transactions against Manta Network were made in the Korean group Manta on the social network X. A crypto enthusiast under the pseudonym Definalist addressed his subscribers with a warning about possible illegal actions and suspicious transactions on the part of Manta Network on the day of listing of MANTA tokens.
Definalist highlighted several suspicious transactions and indicated that on the day of listing on Bithumb, approximately 2 million MANTA tokens were transferred to the personal wallet of Manta Network's business development representative in Korea (BD). .
Definalist noticed that, according to blockchain observer Etherscan, cryptoassets transferred to the balance sheet of a possible Manta Network functionary accounted for more than 75% of the total circulation of MANTA tokens on Bithumb.
“Just five minutes after listing, the price of MANTA on Bithumb skyrocketed to $230. A BD representative allegedly sold all 2 million MANTA tokens at 50-100 times the listing price of $2.26. BD’s revenue amounted to about 2,100 ETH, which is equivalent to approximately $5.2 million,” said the crypto expert.
In response to the allegations, Manta Network released a statement claiming that the transaction was a legitimate part of an investment program aimed at maintaining and expanding the presence of the Manta platform in South Korea.
If Definalist's suspicions are confirmed, the Manta Network team could face serious reprisals from South Korean regulators for violating strict rules regarding money laundering.
For the first time, accusations of suspicious transactions against Manta Network were made in the Korean group Manta on the social network X. A crypto enthusiast under the pseudonym Definalist addressed his subscribers with a warning about possible illegal actions and suspicious transactions on the part of Manta Network on the day of listing of MANTA tokens.
Definalist highlighted several suspicious transactions and indicated that on the day of listing on Bithumb, approximately 2 million MANTA tokens were transferred to the personal wallet of Manta Network's business development representative in Korea (BD). .
Definalist noticed that, according to blockchain observer Etherscan, cryptoassets transferred to the balance sheet of a possible Manta Network functionary accounted for more than 75% of the total circulation of MANTA tokens on Bithumb.
“Just five minutes after listing, the price of MANTA on Bithumb skyrocketed to $230. A BD representative allegedly sold all 2 million MANTA tokens at 50-100 times the listing price of $2.26. BD’s revenue amounted to about 2,100 ETH, which is equivalent to approximately $5.2 million,” said the crypto expert.
In response to the allegations, Manta Network released a statement claiming that the transaction was a legitimate part of an investment program aimed at maintaining and expanding the presence of the Manta platform in South Korea.
If Definalist's suspicions are confirmed, the Manta Network team could face serious reprisals from South Korean regulators for violating strict rules regarding money laundering.
