Security

Agora

Initia

AUSD

Initia Security News turned serious on Friday, October 23. The project halted its Layer 1 and all rollups at 3:41:30 PM UTC after a security incident.
Later reports describe unauthorized token minting and millions of dollars moved out, though a final loss figure is not confirmed.
This<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow">crypto news today</a>report separates the official notice from what others claim.
<h2 id="span-key-takeaways-span">Key Takeaways</h2>
<ul>
 <li>Initia halted its L1 and rollups at 3:41:30 PM UTC on October 23, 2026, and its official post names no cause, loss, or restart time.</li>
 <li>Later reports cite a co-founder's early view of a Day 0 MoveVM bug that allowed token minting, with outside estimates of $2.6M to $2.7M moved out, none confirmed by Initia.</li>
 <li>Upbit paused INIT deposits and withdrawals; Agora says it has no contracts on Initia, and no restart notice appeared in the sources reviewed.</li>
</ul>
<h2 id="span-what-did-initia-announce-about-the-l1-and-rollup-halt-span">What Did Initia Announce About the L1 and Rollup Halt?</h2>
The official @initia update says the Initia L1 and Rollups were halted as of Oct 23, 2026, 3:41:30 PM UTC, due to a security incident.
Source: Initia<a href="https://x.com/initia/status/2113661738625155217?s=20" rel="noopener noreferrer nofollow">(@initia) on X</a>, captured October 24, 2026
The team is investigating with security teams, validators, and exchanges. Verified information will come through official channels.
The post also warns users to stay cautious about unofficial links, messages, and claims. It names no cause, no loss, and no restart time.
<h2 id="span-what-do-later-reports-say-caused-the-initia-security-incident-span">What Do Later Reports Say Caused the Initia Security Incident?</h2>
Co-founder Ezaan Mangalji wrote that, to the best of the team's knowledge, a Day 0 bug tied to Initia's MoveVM on CosmosSDK let an exploiter mint additional tokens on the L1.
They said the bug does not apply to native<a href="https://initia.xyz/" rel="noopener noreferrer nofollow">INIT tokens</a>. That is a founder's early view, not a final report. Another outlet noted that Initia had not formally identified the cause.
<h2 id="span-how-much-was-taken-and-is-it-confirmed-span">How Much Was Taken, and Is It Confirmed?</h2>
The attacker minted tokens and cashed out about $2.6M. On-chain tracking found about 1,135 ETH, worth over $2.7M, sent to a second wallet five seconds after the halt.&nbsp;
In crypto news, early loss figures often shift as tracing continues. Initia has not confirmed the reported losses, and final numbers depend on the project's own report.
<h2 id="span-are-exchanges-and-other-projects-affected-span">Are Exchanges and Other Projects Affected?</h2>
It halted INIT deposits and withdrawals at 15:57 UTC, citing signs of the incident on the network.
The AUSD stablecoin said it has no <a href="https://www.coingabbar.com/en/crypto-blogs-details/smart-contract-exploit-vs-hack-key-differences" rel="noopener noreferrer nofollow">smart contracts</a> on Initia and that its token contract was not compromised.
Other exchange notices were not seen in the sources reviewed, so the wider impact stays unclear.
<h2 id="span-is-the-initia-network-still-halted-span">Is the Initia Network Still Halted?</h2>
In reports about seven hours after the halt, the chain remained stuck at block 23,365,925, and developers had given no restart time.
The L1 manages bridging and liquidity for the rollups, which may explain why both stopped together.
No restart notice appeared in the sources reviewed. Readers following Initia Security News in the<a href="https://www.coingabbar.com/en/crypto-currency-news/cysic-network-listing-date-1-day-away-cys-price-prediction" rel="noopener noreferrer nofollow">latest crypto news</a> should rely on the official channels the team named.
<h2 id="span-conclusion-span">Conclusion</h2>
Initia Security News so far rests on a short official notice and a growing set of outside claims. The cause, the loss, and the restart time are all still open. The next post from @initia will show how much of the early reporting holds up.
YMYL Disclaimer
This article is for informational purposes only and is not financial or investment advice. Cryptocurrency and blockchain networks carry a significant risk of loss. Readers should verify details with official sources and consult a qualified professional before making financial decisions.

Initia Security News: Why Were L1 and Rollups Halted on October 23?

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