After Initia suffered a security vulnerability, the 14% rebound looks more like a short-term sentiment recovery than a fundamental turning point. The attacker exploited a MoveVM script cache flaw to mint bridged assets without limit and cash out about $2.7 million. Although no additional $INIT native tokens were minted, the collateralization ratio of bridged assets fell rapidly, while the L1 and Rollup remain paused, with no clear timeline for restarting.

The current price is around $0.149, with a market cap of about $31.44 million and 24-hour trading volume of roughly $10.75 million. The price may initially trade on the idea that the bad news is behind us, but rebuilding trust will require a comprehensive audit, collateral compensation, and progress on recovery. Before the restart, rebound potential and smart contract risk will coexist, so be cautious about chasing the rally.

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