initia

🚨 Initia halted its layer-1 network and rollups after unauthorized token minting and millions in assets were transferred to Ethereum.

The exploit highlights severe smart-contract risk. Market sentiment remains cautious as holders assess recovery paths.

#Initia #CryptoSecurity

$ETH #TradingSignal #CryptoAnalysis

🚀$INIT (Initia) — Is This Project Underrated? 👀

🔥 $INIT is bringing modular blockchain technology into the spotlight, aiming to make Web3 more scalable and interconnected.

💎 Could INIT surprise the market in the next crypto rally, or is it still flying under the radar?

📊 Your Opinion Matters! What’s your target for INIT in the next bull run? 👇
$INIT

#INIT #Initia #Crypto #BinanceSquare #Altcoins

Initia just hit the kill switch.

The modular L1 halted its entire network and rollups at 15:41 UTC after an attacker exploited what co-founder Zon calls a "Day 0" bug in its MoveVM implementation — minting tokens out of thin air, then swapping the unbacked stablecoins into ETH through 1inch and 0x.

The numbers: security researcher Spreek's initial estimate put the cash-out at ~$2.6M; Zon says ~$2.7M in AUSD, ETH and USDC got bridged out before the chain was paused. D2 Finance traced the first move to a transaction at 14:59:26 UTC that created 2 million unbacked AUSD — and 153 seconds later, a LayerZero message released 1.4M of it from an adapter on Ethereum. The trail consolidates to roughly 1,135 ETH in a fresh wallet.

INIT fell 14% on the news, then whipsawed back to +14% on the day. Upbit and Bithumb have now suspended INIT deposits and withdrawals and issued an investment warning.

Audited code, serious backing — and a mint bug still shipped. Before you trust a bridge's TVL numbers, what do you actually check?

#CryptoNews #DeFi #Initia #Hack

🚨 $INIT is pumping +14% on a chain that's switched off. This makes no sense. 🤯

Hackers minted tokens, took about $2.6M, and the team paused the whole network.

Korean exchanges froze transfers. And the price goes UP?

Either the market knows the native token wasn't touched, or someone is buying a bounce that can't be sold into. I think it's the second one. 👀

If you're buying this, you're betting on a restart date nobody has announced.

Am I wrong? Tell me why. 👇

#CryptoTrading #INIT #Initia

DYOR | NFA

A turbulent time for public blockchains: L2 chains are shutting down one after another, while L1 chains are being hacked frequently.

Another L1 chain, @initia, was just attacked by hackers and has halted block production.

The hackers exploited a bug related to MoveVM on Initia L1 to mint tokens without limit, then drained the liquidity of real reserves on the Ethereum side through a cross-chain bridge.

So far, the hackers have drained $2.6 million in liquidity from assets bridged to and from Initia.

Initia has a total TVL of just $5.8 million across its entire chain, meaning the hackers have indirectly drained nearly half of the chain's liquidity.

#Initia $INIT

Not a single line of code in the cross-chain bridge was compromised, yet real money still got out.

On October 23, Initia co-founder Zon confirmed that a Day 0 vulnerability in MoveVM (built on the Cosmos SDK) let an attacker mint AUSD, ETH, and USDC out of thin air on Initia L1, then bridge them to Ethereum via LayerZero, making off with about $2.7 million. Within minutes of researcher Spreek’s public warning, the L1 and all rollups were urgently halted. Native INIT was unaffected, while Upbit and Bithumb suspended INIT deposits.

From an engineer’s perspective:
· The bridge checks that “the message really came from that chain”; if the signature checks out, it releases the funds.
· The bridge doesn’t check—and can’t check—whether the balance on the source chain was minted out of thin air.
· So the security ceiling for cross-chain assets is set by the weaker of the two chains.

Three tips for retail users:
1) Don’t treat bridged stablecoins on small chains as equivalent to the same-named coins on the main chain.
2) Keep large amounts on their native chain; bridge assets to use them, not to store them.
3) During an outage, trust only official channels. Treat any “compensation registration” or “asset migration” links as phishing.

Being able to shut down the entire chain with one click saved the day this time, but it also shows that this chain’s “decentralization” has a master switch. My attitude toward that switch is like my attitude toward a pretty girl: I’m grateful when it comes in handy, but I won’t pretend it doesn’t exist 😏

#链上安全 #跨链桥 #Initia

Someone found a money printer on the Initia chain tonight. At 22:59 Beijing time, a transaction minted 2 million AUSD out of thin air. Two and a half minutes later, 1.4 million real AUSD was swapped out via LayerZero from the Ethereum side, along with some USDC. The attacker made off with around $2.7 million in total, now consolidated into 1,135.5 ETH (about $2.73 million) sitting in a new wallet.
　
At 23:41, the team officially halted L1 and all rollups. Co-founder Zon said it was a zero-day vulnerability in MoveVM on Cosmos SDK; native INIT was unaffected. The final loss figure has yet to be announced. The information comes from The Block and an on-chain breakdown by D2 Finance.
　
INIT’s price action is pretty wild. During the hour of the incident, it plunged from 0.1355 to 0.1134, down 16%, then shot straight up to 0.1554 the following hour. It’s now hovering around 0.149, actually up 15% over 24 hours. My take is that this kind of rally while the chain is still halted looks more like shorts getting squeezed. Neither a restart time nor a compensation plan has been announced.
　
I’ll keep watching. If that 0.1134 wick gets taken out again, it means the market is starting to price in the chain halt.
　
$INIT $ETH
　
#Initia #HackAttack

Initia Official Announcement: Due to a security incident, Initia L1 and its Rollups have been paused, temporarily halting block production and related on-chain activity.

The team is working with security experts, validators, and exchanges to investigate the attack vector, fund risks, and scope of impact. Please rely on verified information published through official channels for further updates.

During the incident, users are urged to take special care:
1. Do not click unfamiliar links or download unknown files;
2. Never share your seed phrase, private key, or verification codes with anyone;
3. Be highly cautious of messages about “claims,” “compensation,” or “airdrop claims”;
4. Until official recovery instructions are published, pause related deposits, withdrawals, and unfamiliar authorization requests.

Information is often incomplete in the early stages of a security incident. We recommend waiting for the official investigation findings to avoid being misled by false information.

https://x.com/initia/status/2113661738625155217

#Initia #Web3Security

Initia has officially confirmed that its L1 and Rollups have been suspended following a security incident. The team is working with security experts, validators, and exchanges to investigate the attack vector and determine the scope of the impact.

The most important thing right now is not to speculate about the amount of funds lost, but to wait for official confirmation of the on-chain and contract-level details. Suspending the network may disrupt applications, but it can also prevent the risk from spreading further—a common response to high-severity incidents.

A reminder to users: During the incident, do not click unfamiliar claim links, share your seed phrase with anyone, or trust claims about “airdrop compensation” or “authorization migration.” Please rely on updates published through Initia’s official channels.

#Initia #安全事件 #PublicBlockchain

Initia Official Announcement: Due to a security incident, Initia L1 and its Rollups have been suspended. The team is working with security teams, validators, and exchanges to investigate and determine the cause and scope of the incident.

During the downtime, on-chain transfers, deposits and withdrawals, and dApp interactions may be affected. For ordinary users, the most important thing right now is not to rush into taking action, but to guard against further risks caused by misinformation: don’t click unofficial links, trust claims of “compensation airdrops” or “emergency migrations,” or respond to private messages from supposed support staff; and don’t casually sign approvals for unfamiliar contracts.

Keep following Initia’s official channels for verified updates, and wait until the scope of the impact, asset status, and recovery plan are clear before taking action. The hours following a security incident are often when phishing attacks are most prevalent.

#Initia #公链安全 #Web3Security

According to an official announcement from Initia, Initia L1 and its Rollups have been suspended following a security incident. The team is working with security teams, validators, and exchanges to investigate and determine the scope of the impact. Verified information will be shared through official channels.

Until the situation becomes clearer, users are advised to pause related interactions, avoid clicking unfamiliar links, and be wary of screenshots and claims about airdrops or “compensation.” Please also wait for further announcements regarding cross-chain assets and the status of the official bridge.

Original: https://x.com/initia/status/2113661738625155217

#Initia #安全事件 #Layer1

A security incident worth watching: Initia’s official announcement says that Initia L1 and its Rollups have been paused following a security incident.

The team is currently investigating the situation with security teams, validators, and exchanges, and confirming the extent of the impact. For a public blockchain, pausing operations immediately is intended to contain the risk, but the specific cause, impact on funds, and resumption timeline have yet to be confirmed officially. Avoid trusting secondhand screenshots.

During the incident, please take special care: don’t click unfamiliar links, don’t share your recovery phrase with anyone, and don’t rush into approving transactions or transferring funds. Follow updates through Initia’s official channels and exchange notices.

Announcement: https://x.com/initia/status/2113661738625155217

#Initia #SecurityIncident

The chain is down, but the token is still up 11%

Last night at 11:41, Initia halted its chain.
$2.7 million was lost in 7 minutes, and the team didn’t halt the chain until 42 minutes later.

The co-founder called it a “Day 0 bug”: it hurt the bridge, not the token.
Three exchanges suspended deposits and withdrawals, and there’s no sign of a restart.

I said, don’t jump in yet: the native token’s rise is one thing; it doesn’t mean the incident is over.
If the restart goes smoothly and the price gets above $0.157 before stalling at $0.15, my view won’t hold up.

What do you think? Give me your reasons first 😏

$INIT
#Initia

Initia was infinitely minted, L1 and all Rollups halted, and INIT pumped anyway. I pieced together the timeline, and the more I looked, the more suspicious it seemed.

Someone dug up CoinGecko’s 5-minute data: at 23:20 Beijing time, it was still at 0.137; by 23:35, it had fallen to 0.116, a 15% drop. The official chain halt came at 23:41:30.

In other words, people were already dumping 10 to 15 minutes before the chain was halted.

Who knew before the announcement? The attacker, security researchers monitoring the chain, or someone close to the team? Nobody answered that question. Everyone was too busy yelling “crime pump.”

Then at 01:06, it bounced back to 0.151, higher than before the hack, while 24-hour trading volume jumped from around 16 million to around 28 million. The reason given was that the co-founder said native INIT hadn’t been affected.

But the chain is still halted, with no restart date. The AUSD minted out of thin air has already been bridged out for real money, and the official team hasn’t clearly said who will ultimately be left holding the roughly 2.6 million hole.

The most ridiculous thing was those AI shill accounts in the comments, posting several times on the day of the hack: “1h, daily, and weekly structures are all trending up—bullish.” Just block these accounts and move on.

When a hack is treated as bullish, the market is trading on emotions and positioning, not fundamentals. Gamble on a short-term trade if you want, but don’t dress it up as “the market recognizing that the team handled things well.”

#INIT #Initia

🥶 $INIT : Not even oversold conditions can save it — I’m selling the breakdown

INIT is down 2.5% in 24h with the RSI at 24.8: textbook oversold, and yet the price isn’t bouncing — it’s clinging to its 4h EMA50 support ($0.12867) from above, just a breath away from losing it.

Open Interest rose 12% to $9.01M as the price fell: fresh money entering shorts, not trapped longs getting out. Taker flow is 44.1% buys, and funding at +0.005% pays shorts to wait.

That’s smart money sniffing out a breakdown: if INIT loses that EMA50, there’s nothing below until the extended low at $0.11714. Meanwhile, the BTC network is processing 844K txs with hashrate at 1154 EH/s: the broader market is solid — the problem is INIT, not the market.

With OI up 12% while the price falls, this is the breakdown’s edge, where smart money has already placed its bet.

📊 SHORT INIT signal

📍 Current price: $0.13085
🎯 Zone: $0.13085–$0.13426 (dist. 0.0%)

If the price returns to my zone, I’ll enter short with a limit order at $0.13256: 50% there and 50% if I get the retest.
🛑 If it rises above $0.13631 (+2.83%), there’s no breakdown: my stop loss is confirmed BEFORE I enter.
Risk per trade: 2% of capital.
✅ TP1: $0.11714 — when support breaks, I’ll take 50% profit and leave the rest at zero risk.
🏁 TP2: $0.10109, the 1.272 extension: the level where the breakdown completes and I close the rest.
R/R: 1:4.11 · 1:8.38
⚠️ Note: RSI is at 24.8 — a bounce could come at any moment, so the setup expires soon.

⏳ Valid: next 4h, or until price rises above $0.13631.

Will INIT lose the $0.12867 EMA50, or will oversold conditions finally trigger a bounce?
I follow these breakdowns every day: follow me so you don’t miss the next one.
Live price here 👇 INIT

INIT #Initia #Modular #Trading
This is a plan, not financial advice.

Initia L1 and Rollups Paused: Suspected MoveVM “Day 0” Minting Vulnerability; About $2.7 Million Bridged to Ethereum

According to reports by The Block and Cointelegraph, Initia paused its L1 and Rollups at around 15:41 UTC on October 23 following a security incident. Key points:

1. Co-founder Zon said preliminarily that this was a previously unknown “Day 0” bug in the MoveVM implementation on Cosmos SDK that allowed unauthorized minting, but “did not affect native $INIT .”
2. The attacker reportedly minted and bridged out about $2.7 million in AUSD, $ETH , and $USDC before the pause. Researcher Spreek had earlier estimated that about $2.6 million had been cashed out.
3. On-chain analysis indicates that about 1.4 million AUSD, 105 ETH, and approximately 1.08 million $USDC were moved to the Ethereum side, with the funds later consolidated into a new wallet holding about 1,135.5 ETH.
4. Initia has not confirmed the final losses or root cause. Upbit has suspended deposits and withdrawals of $INIT . Agora said that the AUSD it issues was not minted on Initia, and that the affected component was a third-party bridge adapter.

Cross-chain users should pause bridging and wait for the official postmortem. Whether $INIT was affected will be determined by the project’s final statement.

⚠️ For informational purposes only; not investment advice. DYOR. Use official channels only, and don’t click unfamiliar claim links.

#Initia #INIT #跨链安全 #ETH #HackingIncident

【Market News】The chain is down, and the funds are stuck. The most frustrating part of Initia being hacked is not the $2.7 million stolen, but that the L1 and all rollups have been offline since Friday noon, and the team still cannot provide a restart timeline. Upbit has suspended INIT deposits and withdrawals, and the token price once plunged by about 14%—the attacker’s loot, paid for by all users. Which side are you on: compensate users first, or fix the chain first?
$INIT $ETH $USDC
#Initia #链上安全 #CryptoMarket
(Source: Unchained)
⚠️Risk Reminder: The above is market information sharing and does not constitute investment advice; investing involves risks, so please proceed with caution.

Initia halts network after security incident; attacker reportedly mints tokens

- The Initia network has halted following a security incident.
- The attacker reportedly minted tokens.
- On-chain data records a transfer of 2.7 million ether.
- Initia is investigating the scope of the incident.

#BinanceSquare #CryptoNews #ETH #Initia

$eth

#vlikevn Titanbot

Source: The Block

Initia suspends network after $2.6M scam

- Initia has suspended its Layer 1 network and rollups.
- Security research uncovered unauthorized token minting and the transfer of $2.6M in assets to Ethereum.
- The network will remain offline until the issue is resolved.
#Initia #CryptoNews #ETH

$eth

#vlikevn #Titanbot

Source: CoinTelegraph

Initia mainnet has been urgently halted. At 23:41 Beijing time on 10/23, block production was suspended across Initia L1 and all the rollups built on it following a security incident.

Co-founder Zon said the issue was a 0-day vulnerability in MoveVM, which runs on Cosmos SDK. The attacker minted cross-chain assets out of thin air and bridged out about $2.7 million in AUSD, ETH, and USDC before the halt. Native $INIT was unaffected.

According to D2 Finance’s on-chain analysis, all the funds have been swapped for about 1,135.5 $ETH and transferred to a newly created wallet on Ethereum. Upbit has suspended INIT deposits and withdrawals.

$INIT initially fell 14% after the news broke, then rebounded. It’s now around $0.141, still up about 8.8% over 24 hours. The team has yet to announce the root cause or when operations will resume. Avoid moving assets on the bridge for now.

#Initia #链上安全 #CryptoFlashNews