I looked into it: the notice refers to a real security incident on the Initia network, not just price volatility.
On October 23, Initia reported that it had halted its L1 network and rollups while investigating the incident. The team later attributed the issue to a flaw in MoveVM, which allowed unbacked balances of some assets to be created and moved off the network.
According to the official statement, the attacker did not create the native INIT token, and its supply was not affected.
Official statement: [https://x.com/initia/status/2113915002008612945](https://x.com/initia/status/2113915002008612945?utm_source=chatgpt.com)
The network was announced as restored on November 2, after an audited fix was applied. Covering the losses and resuming services were part of the recovery process. Some transfers and bridges were to be reactivated gradually.
What I could not confirm: whether, at the time of your screenshot, Binance had already removed all notices or fully restored operations related to INIT.
The alert shown in the app is still relevant, even after the network resumed operations.
I would not treat INIT as a recommended entry at this point, until checking the latest official announcements and the status of deposits and withdrawals directly on Binance.
The network resuming operations is positive news, but it does not erase the security incident or prove that all risks have been resolved.
On October 23, Initia reported that it had halted its L1 network and rollups while investigating the incident. The team later attributed the issue to a flaw in MoveVM, which allowed unbacked balances of some assets to be created and moved off the network.
According to the official statement, the attacker did not create the native INIT token, and its supply was not affected.
Official statement: [https://x.com/initia/status/2113915002008612945](https://x.com/initia/status/2113915002008612945?utm_source=chatgpt.com)
The network was announced as restored on November 2, after an audited fix was applied. Covering the losses and resuming services were part of the recovery process. Some transfers and bridges were to be reactivated gradually.
What I could not confirm: whether, at the time of your screenshot, Binance had already removed all notices or fully restored operations related to INIT.
The alert shown in the app is still relevant, even after the network resumed operations.
I would not treat INIT as a recommended entry at this point, until checking the latest official announcements and the status of deposits and withdrawals directly on Binance.
The network resuming operations is positive news, but it does not erase the security incident or prove that all risks have been resolved.