Initia Halts L1 and Rollups After a Day-0 Mint Exploit Drains $2.7 Million

Initia stopped producing blocks at 15:41:30 UTC on October 23, roughly forty-two minutes after an attacker minted 2,000,000 AUSD out of nothing and fourteen minutes after pseudonymous researcher Spreek flagged the activity on-chain. The project’s first notice called it “a security incident” and named none of the mechanics. Those mechanics arrived in fragments over the next day, and together they describe something narrower than a supply shock and sharper than a routine bug: an unauthorized mint that became real money the moment it touched a bridge.

Source: Blockchain Reporter