Initia has really ground to a halt this time: at 11:41:30 a.m. Eastern Time on October 23, the L1 and all rollups were emergency-halted, and no restart time had been announced as of late that evening. The cause was a Day 0 vulnerability in MoveVM on Cosmos SDK. An attacker minted tokens out of thin air and, in just 7 minutes and 21 seconds, bridged about $2.7 million in AUSD, ETH, and USDC to Ethereum, swapped them for 1,135.5 ETH, and made off with the funds. The good news is that the native $INIT token was not inflated. After the news broke, INIT first fell 14%, then recovered. But as long as the chain stays offline, assets on it remain inaccessible—which is why you should never treat money in a cross-chain bridge as your own. #Initia #SecurityIncident