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Initia paused its L1 blockchain on November 10 after detecting unauthorized transfers from escrow accounts holding assets bridged to several rollups.
According to Initia's preliminary investigation, compromised rollup infrastructure keys allowed attackers to forge IBC transfers.
💸 Around 605,000 USDC moved out through Noble, alongside approximately $10,000 in other tokens, before the network was halted.
That puts the estimated amount transferred out at roughly $615,000,
Initia says most of the remaining assets moved from the affected escrow accounts are still on the halted L1.
Bridge security depends on more than smart contracts. If infrastructure keys are compromised, attackers may be able to authorize transfers that should never happen.
The investigation is ongoing. The full scope, affected rollups, method of key compromise and restart timeline remain unclear.
Initia paused its L1 blockchain on November 10 after detecting unauthorized transfers from escrow accounts holding assets bridged to several rollups.
According to Initia's preliminary investigation, compromised rollup infrastructure keys allowed attackers to forge IBC transfers.
💸 Around 605,000 USDC moved out through Noble, alongside approximately $10,000 in other tokens, before the network was halted.
That puts the estimated amount transferred out at roughly $615,000,
Initia says most of the remaining assets moved from the affected escrow accounts are still on the halted L1.
Bridge security depends on more than smart contracts. If infrastructure keys are compromised, attackers may be able to authorize transfers that should never happen.
The investigation is ongoing. The full scope, affected rollups, method of key compromise and restart timeline remain unclear.
