As of Oct 23, 2026, 3:41:30 PM UTC, the Initia L1 and Rollups have been halted due to a security incident.
Our team is actively investigating the situation and working to establish the full scope of any impact with security teams, validators, and exchanges.
We will share verified information through our official channels as it becomes available.
Please remain cautious of unofficial links, messages, or claims circulating during this time.
Our team is actively investigating the situation and working to establish the full scope of any impact with security teams, validators, and exchanges.
We will share verified information through our official channels as it becomes available.
Please remain cautious of unofficial links, messages, or claims circulating during this time.
Oct 23, 2026 · 4:00 PM UTC
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@initiafor the update,
Our on‑chain analysis shows the attacker moved ~1,135 ETH (≈ $2.7 M) after using a Tornado Cash relayer and a cross‑chain phishing syndicate. Agora’s freeze tx arrived 1 h 28 m too late, so the funds stay in the consolidation wallet (0x358e…CAC8) with no outgoing activity.
We’ll keep monitoring the official channels and are ready to help with any further forensic work.
Our on‑chain analysis shows the attacker moved ~1,135 ETH (≈ $2.7 M) after using a Tornado Cash relayer and a cross‑chain phishing syndicate. Agora’s freeze tx arrived 1 h 28 m too late, so the funds stay in the consolidation wallet (0x358e…CAC8) with no outgoing activity.
We’ll keep monitoring the official channels and are ready to help with any further forensic work.
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@initia Your fucking team decided to pull a stunt-tell the truth: nobody hacked you
you're just a bunch of faggots
you're just a bunch of faggots
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@initia Halt at 15:41 UTC. Agora froze the attacker's AUSD 93 min after the exploit. Blockaid's median before stolen funds start moving is ~17 min. Chain halts work, but they stop everyone. Institutions will want these stop rules published before they hold size.
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@initia:41:30 UTC.
Mint block 23364847 at 14:59:26.
LayerZero released 1.4M AUSD at 15:01:59 and 105 ETH at 15:06:47 on Ethereum before the halt.
A rollback past that block erases the burns, not the releases. Will bridged AUSD, ETH and USDC on Initia be made whole, and by whom?
x.com/d2_finance/sta…
Mint block 23364847 at 14:59:26.
LayerZero released 1.4M AUSD at 15:01:59 and 105 ETH at 15:06:47 on Ethereum before the halt.
A rollback past that block erases the burns, not the releases. Will bridged AUSD, ETH and USDC on Initia be made whole, and by whom?
x.com/d2_finance/sta…
We decoded the @initia exploit.
One signed tx at 14:59:26 UTC minted 2,000,000 AUSD out of nothing. 153 seconds later a valid @LayerZero_Core message released 1.4M real AUSD from the Ethereum adapter. $2.65M was back on Ethereum within 7m21s of the mint.
Three exits, all into from the AUSD OFT adapter, 71% of its balance, 576K left.
ETH: 105 from the native-ETH OFT adapter, 96% of its balance, 4.84 left.
USDC: 1.08M as fresh mints from 0x0, via Circle's CCTP.
The mint was the attacker's own key calling one Move function, 135,888 gas, no bridge message involved. The token is an argument (recipient, token, amount), consistent with one wallet printing AUSD, USDC and ETH. LayerZero's DVNs then attested to burns that really happened, and an OFT adapter cannot check whether burned tokens were ever backed: each Ethereum lockbox pays at par for any Initia-side mint bug.
Prep started 6.5 hours before the mint: 0.1 ETH from Tornado at 08:27 UTC, dust sends through @axelar AxelarHandler from 13:14, and a 0.006 ETH deposit at 14:37 into the same ETH adapter it emptied 29 minutes later. Every stable was ETH within 3 minutes of landing via 1inch and 0x, AUSD in 84 seconds. All 1,135.52 ETH (~$2.73M) now sits in a fresh wallet, 0x358e…CAC8.
Same shape as Liquid on 6 Sep, where an Elements bug created 4,000 L-BTC and a valid peg-out paid 3,996 real BTC.
Initia's DEX holds $3.50M of TVL and did $334K of volume in 24h. Its bridges carried 8x that for one wallet in 7m21s: on Initia, the deepest pool was the bridge.
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@initia Hope the investigation wraps up fast and funds stay safe
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@initia CoinGecko's 5-min price series: initia:native was $0.137 at 15:20 UTC and $0.116 at 15:35, -15%. So the selling started ~10-15 min before the 15:41:30 halt.
Since then it has more than recovered: $0.151 at 17:06 UTC, with 24h volume up from ~$16M to ~$28M.
Since then it has more than recovered: $0.151 at 17:06 UTC, with 24h volume up from ~$16M to ~$28M.
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@initia wrapped tokens were mintable out of nothing but native INIT wasn't touched — and the whole chain is down anyway
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