🚨 $INIT SECURITY BREACH EXPOSES $2.7M LIQUIDITY SWEEP! 🦈
The MoveVM script caching flaw let an attacker forge state and inject unsupported WETH, iUSD and USDC balances, bypassing every security gate. 🦈 The net effect: roughly $2.7 M siphoned, later consolidated into 1,135.52 ETH.
Initia L1 and its rollups are now halted while the dev team stitches the patch and lines up an audit. 📊 Expect a full forensic report soon, and stay vigilant against rogue links that could masquerade as recovery channels. 🔍
💬 How do you think this incident will reshape risk perception around emerging L1 protocols? 👇
⚠️ Not financial advice. Always manage your risk. 🛡️
🏷️ #INIT #SecurityBreach #LiquiditySweep #CryptoRisk
🔥 🦈
The MoveVM script caching flaw let an attacker forge state and inject unsupported WETH, iUSD and USDC balances, bypassing every security gate. 🦈 The net effect: roughly $2.7 M siphoned, later consolidated into 1,135.52 ETH.
Initia L1 and its rollups are now halted while the dev team stitches the patch and lines up an audit. 📊 Expect a full forensic report soon, and stay vigilant against rogue links that could masquerade as recovery channels. 🔍
💬 How do you think this incident will reshape risk perception around emerging L1 protocols? 👇
⚠️ Not financial advice. Always manage your risk. 🛡️
🏷️ #INIT #SecurityBreach #LiquiditySweep #CryptoRisk
🔥 🦈