Initia's chain is halted again — and the token just gave back its whole morning bounce.
$INIT $0.1144, -16.9% today. High $0.1427, low $0.108. Volume $11.8M.
This morning it was up 14% at $0.1275. Now it's back near the lows.
Here's what changed: the Nov 2 restart didn't last. On Nov 10 Initia halted its chain a second time in 18 days — an attacker used a stolen Google Cloud key to forge withdrawals from five rollups and move about $3.27M. Around $2.16M is stuck on the paused chain.
No restart date yet. Initia says it's rebuilding the infrastructure from scratch and that it will take longer than a routine restart.
The token ran from about $0.13 on Nov 9 to $0.395 on Nov 11. Now it's $0.114. Two exploits, about $6M gone, in three weeks.
Is this a chain worth trusting a third time, or is the market done waiting?
#Initia #Crypto #BinanceSquare
Not financial advice.
$INIT $0.1144, -16.9% today. High $0.1427, low $0.108. Volume $11.8M.
This morning it was up 14% at $0.1275. Now it's back near the lows.
Here's what changed: the Nov 2 restart didn't last. On Nov 10 Initia halted its chain a second time in 18 days — an attacker used a stolen Google Cloud key to forge withdrawals from five rollups and move about $3.27M. Around $2.16M is stuck on the paused chain.
No restart date yet. Initia says it's rebuilding the infrastructure from scratch and that it will take longer than a routine restart.
The token ran from about $0.13 on Nov 9 to $0.395 on Nov 11. Now it's $0.114. Two exploits, about $6M gone, in three weeks.
Is this a chain worth trusting a third time, or is the market done waiting?
#Initia #Crypto #BinanceSquare
Not financial advice.
