Initia halted its mainnet and rollup networks due to a security incident, while security researcher Spreek alleged that an attacker who minted unauthorized tokens cashed out approximately $2.6 million.
According to a statement reported by Wu Blockchain, Initia halted its L1 network and rollups at 18:41 Turkey time on October 23. The team is working with validators, exchanges, and security firms to determine the impact of the incident.
Mainnet and Rollups Halted
The decision covers both the main blockchain and connected networks known as rollups. Initia said in its statement that work to determine the scope of the security incident is ongoing.
Researcher Points to Unauthorized Token Minting
Security researcher @spreekaway said in a separate post that the attacker created tokens without authorization and cashed them out, obtaining approximately $2.6 million up to that point. According to the researcher, transfers of additional funds were also ongoing.
Initia has not yet confirmed the amount of losses or the technical cause of the incident. Therefore, the $2.6 million figure is being reported as the researcher’s assessment at that point, not as a confirmed total loss disclosed by the team.
Not investment advice.