Initia confirmed today that it had been hacked for the second time in three weeks: attackers used leaked Google Cloud credentials to break into the Rollup hosting platform and forge cross-chain withdrawals across five chains. $3.27 million was transferred, of which $2.16 million is frozen on the halted main chain; around $615,000 actually made it out. The main chain has been halted since yesterday, with no restart date set. The project team has promised full reimbursement. The absurd part is that it’s still up more than 20% after $INIT 24 hours, hovering around $0.28. The chain has been hacked twice, and the combined losses already exceed all the assets still locked on-chain, yet the token is still rising. This has nothing to do with fundamentals anymore—it’s purely a bet on the news gap around compensation and a restart. $0.19; if it breaks below that, this speculative rally is over.
#Initia #Hacker attack
Not investment advice. DYOR