The network suspension took effect at 3:41:30 p.m. UTC on October 23. Initia confirmed the move in an official statement, noting that security teams, validators, and exchange partners are currently working to determine the full scope of the vulnerability. While the project team has not yet disclosed a timeline for restarting operations, they have urged users to remain vigilant against unofficial communications and claims circulating in the wake of the halt.
In section Cryptocurrency
Initia Suspends Blockchain After Reported $2.6 Million Exploit
A security breach on the Initia layer-1 network has forced an immediate halt to all operations and rollups. Security researcher Spreek identified unauthorized token minting during the incident, with early estimates suggesting the attacker successfully cashed out at least $2.6 million in digital assets before the chain was frozen.
Discrepancies remain regarding the specific assets compromised. While Spreek reported unauthorized minting, Agora has publicly disputed the involvement of its AUSD stablecoin, stating it holds no smart contracts on the Initia network. Separate reports from The Defiant tracked the movement of 1,135.5 ETH following stablecoin swaps, while earlier analysis from D2 Finance pointed to the creation of 2 million unbacked AUSD tokens. These figures currently await independent reconciliation as investigators work to verify the total impact on users.
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