Initia halts L1 and rollups after $2.7 million exploit — What happened?

Initia, a Layer 1 blockchain and interwoven modular roll-up network, suffered a major security incident on 23rd October. An attacker allegedly exploited a vulnerability in its blockchain to create tokens without permission and withdraw real assets from cross-chain bridges. According to the investigation, the attack began at 14:59:26 UTC when the exploiter used a single signed transaction to mint 2 million AUSD tokens out of thin air on Initia. The transaction reportedly consumed 135,888 gas and called a 'Move' function directly, without requiring a cross-chain bridge message.

Source: AMBCrypto