Initia Pauses L1 and Rollups After Reported $2.6M Exploit

Initia, a layer-1 blockchain built to support interconnected rollups, has halted operations after researchers reported an exploit that allegedly enabled an attacker to mint unauthorized tokens and convert them into crypto assets worth more than $2.6 million. The network was stopped at 3:41 p.m. UTC on Friday, according to an announcement from Initia on X . The team said it is coordinating with security researchers, validators, and exchanges to assess the full scope of the incident. Key takeaways Initia paused its layer-1 and rollups at 3:41 p.m. UTC after reports of an unauthorized token-minting exploit.

Also reported by The Defiant.

Source: Crypto Breaking News