Initia Pauses Network After Exploit Reportedly Drains Over $2.6M
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Initia suspended its layer-1 network and rollups following reports of unauthorized token minting and asset transfers to Ethereum.
Initia halted its layer-1 blockchain and associated rollups after an exploit reportedly drained more than $2.6 million, according to Cointelegraph.
Security researchers identified unauthorized token minting linked to the incident. They also detected transfers of millions of dollars in assets to Ethereum.
The suspension affected both Initia’s base network and its rollups. The report did not specify when operations would resume.
Source: Cointelegraph
