Initia Blockchain Exploit Drains Over $2.6M, Network Halted

• Initia suspended its layer-1 network and rollups due to a security exploit.
• Unauthorized token minting and millions in assets were transferred to Ethereum.
• The exploit drained over $2.6 million in assets.
• Onchain data shows a $2.7 million ether transfer.
• Initia is investigating the scope of the security incident.