💎 Security alert: Initia loses millions of dollars following an attack!
On November 9, a cloud access vulnerability allowed hackers to infiltrate Initia’s systems and issue fraudulent withdrawal commands from 5 Rollups.
📊 Breakdown of the losses:
- Total value of assets moved: approximately $3.27 million.
- Funds currently stuck on L1: ~$2.16 million.
- Assets withdrawn include: 13,400 TIA, 8,000 USDC.inj, and 597,000 Noble USDC.
💡 Key takeaways from the incident:
1. Cloud infrastructure vulnerabilities continue to be the “Achilles’ heel” of Web3 projects.
2. The team’s commitment to fully reimburse the losses is an important step in maintaining the community’s trust.
3. Upgrading IBC authentication highlights the urgent need for security in cross-chain connections.
Initia is currently rebuilding its entire infrastructure in an isolated environment. The date when the network will officially restart has not yet been announced.
👉 Behind the headlines — Follow the channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en&r=BOZMO8A1
#Initia #Security #CryptoNews #Blockchain $TRX
On November 9, a cloud access vulnerability allowed hackers to infiltrate Initia’s systems and issue fraudulent withdrawal commands from 5 Rollups.
📊 Breakdown of the losses:
- Total value of assets moved: approximately $3.27 million.
- Funds currently stuck on L1: ~$2.16 million.
- Assets withdrawn include: 13,400 TIA, 8,000 USDC.inj, and 597,000 Noble USDC.
💡 Key takeaways from the incident:
1. Cloud infrastructure vulnerabilities continue to be the “Achilles’ heel” of Web3 projects.
2. The team’s commitment to fully reimburse the losses is an important step in maintaining the community’s trust.
3. Upgrading IBC authentication highlights the urgent need for security in cross-chain connections.
Initia is currently rebuilding its entire infrastructure in an isolated environment. The date when the network will officially restart has not yet been announced.
👉 Behind the headlines — Follow the channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en&r=BOZMO8A1
#Initia #Security #CryptoNews #Blockchain $TRX