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Initia halts blockchain following exploit that reportedly drained over $2.6 million

1 reports1 sources10/23/2026 updated

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AI overview

Initia has halted its layer-1 blockchain and rollups following a security incident on Friday afternoon. During the exploit, an attacker minted tokens without authorization, converting approximately $2.6 million into other assets, with additional funds still being moved to Ethereum.

Written with AI from the reporting · updated 10/23/2026

Latest developmentOct 24, 02:39
Initia halts blockchain after exploit drains over $2.6M to Ethereum
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  1. 1Unclassified fact stationOct 23, 00:00recorded Oct 24, 02:55single sourcerevised

    Initia halts blockchain after exploit reportedly drains over

    Read original source ↗ CointelegraphReplay this moment in the explorer
    Evidence & revisions · 1 source records
    Subject：
    Initia
    Action：
    halted its layer-1 blockchain and rollups
    Object：
    network affected by exploit
    Occurred (fact side)：
    Oct 23, 00:00
    Cointelegraph ↗Report pageRevision 2 · currently revised
    Published (valid side)：
    Oct 24, 02:39
    First seen (known side)：
    Oct 24, 02:55
    Fact stationSingle source · one-sided claimRevised

    Copy may have been revised later; time replay is bounded. Layer labels group reading only, not causation between layers.

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Oct 24
  1. CointelegraphSelectedRelated fact: single sourceSource report revised
    Initia halts blockchain after exploit drains over $2.6M to Ethereum

    Report first recorded Oct 24, 02:55

    Initia suspended its layer-1 network and rollups at 3:41 p.m. UTC on Friday after security researchers identified an exploit allowing unauthorized token minting and the transfer of over $2.6 million in crypto assets to Ethereum. DeFi platform D2 Finance reported the attacker exploited a vulnerability in a Move function to mint 2 million AUSD tokens without backing, subsequently withdrawing approximately 1.4 million AUSD, 105 ETH, and 1.08 million USDC to an Ethereum wallet holding about 1,135.5 ETH, valued at $2.73 million.

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