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Initia halts blockchain after attacker mints tokens and converts around $2.6 million

Initia halted its layer-1 blockchain and rollups after an unauthorized token minting exploit. Blockchain security researcher Spreek flagged the activity.

  • An unauthorized actor used token minting to exploit Initia, according to blockchain security researcher Spreek.
  • The attacker converted approximately $2.6 million worth of minted assets, with additional funds still being moved.
  • The attacker swapped unauthorized minted tokens for assets that held real value.
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