• Attack method. The attacker gained access to leaked keys through the project’s cloud and GitHub accounts, allowing them to forge Inter-Blockchain Communication (IBC) transactions and withdraw assets from the escrow accounts of five rollup networks.
• Amount stolen. Initial Initia updates estimated that approximately $605,000 in USDC had left the network via Noble, along with $10,000 in other tokens, before a subsequent forensic investigation revealed that a total of $3.27 million had been moved.
• Most assets frozen. Approximately $2.16 million of the stolen assets remain stranded and frozen within the halted Initia network, preventing the attacker from using them or withdrawing them from the network.
• Compensation and restart. Initia’s management has confirmed its full commitment to replenishing all affected users’ assets. It is currently working with security and law enforcement teams to rebuild the infrastructure in an isolated environment, with no restart date yet announced.
$BARD
$SOPH
$AKE
#WhatWillDriveCryptoandStocks’NextRebound? #HuangExitNvidiaStrategyInFocus #TradFiForBeginners
• Amount stolen. Initial Initia updates estimated that approximately $605,000 in USDC had left the network via Noble, along with $10,000 in other tokens, before a subsequent forensic investigation revealed that a total of $3.27 million had been moved.
• Most assets frozen. Approximately $2.16 million of the stolen assets remain stranded and frozen within the halted Initia network, preventing the attacker from using them or withdrawing them from the network.
• Compensation and restart. Initia’s management has confirmed its full commitment to replenishing all affected users’ assets. It is currently working with security and law enforcement teams to rebuild the infrastructure in an isolated environment, with no restart date yet announced.
$BARD
$SOPH
$AKE
#WhatWillDriveCryptoandStocks’NextRebound? #HuangExitNvidiaStrategyInFocus #TradFiForBeginners