Initia: chain and rollups halted after about $2.7M in bridged assets left for Ethereum
Update
Initia: MoveVM script cache let the attacker fake bridged balances
24 Oct: Initia says a MoveVM script-caching bug let the attacker fake balances of WETH, iUSD, and USDC without changing recorded supply. No INIT was minted. 08M USDC via Noble. 52 ETH at 0x358e…cac8.
The chain and rollups are still halted. Initia says a fix should be audited in a few days.
23 Oct 2026: Initia halted its L1 and every Initia rollup at 15:41 UTC after a security incident. 7M of AUSD, ETH, and USDC out to Ethereum. Native INIT was not minted. SlowMist lists the same $2,700,000.
Initia has not posted a post-mortem, a restart time, or a compensation plan. Research snapshot from Initia, the co-founder, and SlowMist.
369 take
Stay off bridges into or out of Initia until the project posts a restart on its own account. Ignore claim and migration links. A status page that says services are online is not a chain restart.
Sources