$INIT INIT: Watching the Aftermath of the Hack
I've been closely watching INIT for the past two days after the security incident. The exploit reportedly drained around $2.7M through unbacked tokens, forcing Initia to halt its network and rollups. Interestingly, native INIT was not minted. I'm observing its price movements during this shutdown to learn how the market reacts to a major security crisis. Recovery or more risk? Time will tell.
I've been closely watching INIT for the past two days after the security incident. The exploit reportedly drained around $2.7M through unbacked tokens, forcing Initia to halt its network and rollups. Interestingly, native INIT was not minted. I'm observing its price movements during this shutdown to learn how the market reacts to a major security crisis. Recovery or more risk? Time will tell.