Initia Pauses L1 and Rollups Following Reported Mint Exploit
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Initia halted its L1 and rollups after a reported mint exploit, with analyst Spreek estimating that $2.6 million had been cashed out.
Initia paused its layer-1 network and rollups following a reported mint exploit, according to The Defiant.
Analyst Spreek estimated that approximately $2.6 million had been cashed out. That figure represents an analyst estimate rather than a confirmed loss total.
Ethereum transaction records showed stablecoin swaps followed by a transfer of 1,135.5 ETH. The available report did not detail the exploit mechanism or provide a timeline for restarting the networks.
Source: The Defiant
