Mantle
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 60 → 89. Problems weighed by who is responsible: concerns that are not fraud −19.2, problems around the subject, caused by others −2.7; legitimacy credit well known and widely used +15, long-running +8, regulated +5, audits +8; 2 section(s) set aside until a failed fact-check is resolved; fact-check adjustments (+5) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -19.2 |
| Problems around it, caused by others | -2.7 |
| Well known and widely used | +15 |
| Long-running | +8 |
| Regulated | +5 |
| Audited | +8 |
| Sum | 79 |
- 2 sections set aside: the claims did not hold up in a fact-check, pending correction.
Score: 89/100 (kept between 0 and 100)
How scoring works →Summary
Mantle is a modular Ethereum Layer 2 network launched in July 2023, emerging from a merger of the BitDAO DAO and the Mantle L2 project. The MNT token was converted 1:1 from BitDAO's BIT token following a May 2023 community vote. The protocol holds a treasury of over $6 billion in assets and ranked approximately #43 by market cap as of mid-2026, but carries notable centralization risks including a single sequencer, zero-delay contract upgrade capability, and deep strategic and financial dependence on Bybit, the centralized exchange that held approximately 60% of the initial BIT token supply and suffered a $1.5 billion North Korean hack in February 2025.
Connected Entities
9 entities · 60 linked investigations- Mantle→mentioned with→Bybit(70%)
- Mantle→mentioned with→Tectonic(65%)
- Mantle→mentioned with→Ethereum(80%)
- Mantle→mentioned with→Polygon(60%)
- KelpDAO / LayerZero Bridge Exploit (April 2026) — DPRK Lazarus→mentioned with→Ethereum(80%)
- KelpDAO / LayerZero Bridge Exploit (April 2026) — DPRK Lazarus→mentioned with→Mantle(65%)
- Safe{Wallet}→mentioned with→Ethereum(80%)
- Safe{Wallet}→mentioned with→Bybit(70%)
- Safe{Wallet}→mentioned with→Polygon(60%)
- Eigenlayer→mentioned with→Mantle(60%)
- + 12 more
Timeline(17 events)
August 2021
BitDAO founded with Bybit as primary institutional backer; Bybit holds approximately 60% of initial BIT supply.
Mantle / CryptoHopperDecember 2022
BitDAO governance proposal introduces Mantle L2 concept, proposed by pseudonymous community member jacobc.eth and Bybit CEO Ben Zhou.
AiCoin ResearchMay 2023
BitDAO community passes BIP-21, approving merger of BitDAO and Mantle brands under 'one brand, one token' structure; BIT to be converted 1:1 to MNT.
CryptoSlateJune 2023
MIP-23 passes, burning 3 billion unconverted BIT tokens and reducing total MNT supply from 9.2 billion to 6.219 billion.
Mantle Tokenomics Docs17 July 2023
Mantle Network Mainnet Alpha launches at EthCC in Paris, alongside $200 million EcoFund.
CryptoSlateJuly 2023
Security audits completed by OpenZeppelin (token and bridge), Secure3 (smart contracts), and Sigma Prime (rollup assessment).
Medium/Secure3March 2024
Mantle research team publishes fair sequencing architecture paper using verifiable randomness to reduce MEV and censorship; design not yet live on mainnet.
Mantle Network Blog13 February 2025
Mantle announces leadership expansion with key hires from traditional finance and Web3.
Blockhead21 February 2025
North Korean Lazarus Group steals approximately $1.5 billion in ETH from Bybit via compromised Safe Wallet UI; approximately $24 million in mETH among stolen assets. MNT falls ~17%, Bybit records $2.2 billion in outflows.
FBI / CNBCMarch 2025
Mantle becomes first major L2 to fully integrate EigenDA, expanding data availability infrastructure from 10 to over 200 operators.
Mantle Network BlogSeptember 2025
Mantle deploys OP-Succinct (SP1 ZK proofs) on mainnet, transitioning from optimistic rollup to ZK validium.
L2BEAT / Mantle Blog15 December 2025
mETH Protocol upgrades with Buffer Pool mechanism enabling on-demand mETH-to-ETH redemptions via dual liquidity pathways.
OSL Academy19 April 2026
KelpDAO exploited for approximately $292 million in rsETH via LayerZero cross-chain verification flaw; attack attributed to Lazarus Group. Mantle core infrastructure unaffected but rsETH holders on Mantle impacted.
CoinDesk27 April 2026
Mantle pledges 30,000 ETH credit facility (~$127 million) to assist Aave's recovery following KelpDAO contagion, joining the 'DeFi United' relief fund.
CoinDeskDecision Log
- slot 455370485 · hash CmUEA8tmizHGAQfRboBGXKzE1Sg2gmKyxLZHckmKHfV
- slot 445506279 · hash E3sozabpWU21WQut2R76vbj5ywvnP5Lhtv4kwBvAE31o
- slot 426514904 · hash B9cW4ib1LMGbv2PkDFMQX2NFscVLAtFZgKdUS2xYhfPQ
- slot 426514901 · hash BoKx8TyYAZKU63e9zwspRPfdFAUiVbG8eo46Md8PipHZ
- slot 425241343 · hash ADT5YM7K15jCucGASi6iZ9jrJKmvdyz3cFhcB4YKnT3X
- slot 425241340 · hash df2vBfQRdnHf8TyPkqJz2DsMX69CzeVf7Cxizy6aHQm
- slot 419628979 · hash FG4wxuKuqGd3fNurr8LDTcwuJFyPd4c3zB6PMV1ZJQ1u
This investigation is cryptographically anchored to the Solana blockchain (7 decisions). 23 of 24 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/13/2026, 3:19:26 AM
last updated: 10/10/2026, 6:50:19 PM
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