Initia halts blockchain after exploit allegedly drains over $2.6 million
Layer-1 network and rollups suspended after unauthorized token minting and cross-chain transfers to Ethereum
Initia has halted its layer-1 blockchain and rollups after security researchers reported an exploit that allowed an attacker to mint tokens without authorization and drain more than $2.6 million in crypto assets. The network was stopped at 3:41 p.m. UTC on Friday following the security incident, the project said on X.