Initia halts blockchain and rollups after reported $2.6M exploit

Initia has halted its layer-1 blockchain and rollups after security researcher Spreek reported unauthorized token minting and approximately $2.6 million cashed out by an attacker. Initia confirmed in its Oct. 23 statement that the suspension took effect at 3:41:30 p.m. UTC, with security teams, validators, and exchanges helping investigate the incident.

The network team said it was working to establish the full scope of the impact, without listing affected applications, individual user losses or a schedule for restarting operations in the statement. “We will share verified information through our official channels as