🌐 Initia pauses blockchain after $615,000 loss
📌 The Initia project has announced a pause in blockchain operations following a security incident involving escrow accounts for bridged assets. According to reports, a total of $615,000 in assets was lost from these accounts.
📌 Notably, most of the assets moved out of the escrow accounts remain on the L1 network, which is currently paused. This means the status of these assets and the possibility of recovering them are now tied to Initia’s system recovery process.
💬 What do you think about this development? Let’s discuss!
#Web3 #CryptoNews
🔗 Source: CryptoPotato
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).
📌 The Initia project has announced a pause in blockchain operations following a security incident involving escrow accounts for bridged assets. According to reports, a total of $615,000 in assets was lost from these accounts.
📌 Notably, most of the assets moved out of the escrow accounts remain on the L1 network, which is currently paused. This means the status of these assets and the possibility of recovering them are now tied to Initia’s system recovery process.
💬 What do you think about this development? Let’s discuss!
#Web3 #CryptoNews
🔗 Source: CryptoPotato
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).