AUSD
+0.0%Initia halts blockchain after attacker mints tokens and converts around $2.6 million
Image: CointelegraphInitia halted its layer-1 blockchain and rollups after an unauthorized token minting exploit. Blockchain security researcher Spreek flagged the activity. The attacker converted approximately $2.6 million into other assets, with additional funds still being moved. D2 Finance said the attacker minted 2 million AUSD without sufficient backing and moved assets to Ethereum. Initia has not publicly confirmed the estimated losses or the precise cause. The impact on users and timeline for restoring operations remain unclear.
Key points
- 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.
- Initia has not publicly confirmed the estimated losses or the precise cause of the exploit.
Why it matters
The exploit and network halt matter for users and exchanges holding or transacting INIT and assets moved from Initia. The full impact and timeline for restoring operations remain unclear.
What's unclear
The total amount stolen remains unknown because additional funds were still being moved beyond the approximately $2.6 million converted.
Initia has not publicly confirmed the precise cause, the impact on users, or the timeline for restoring network operations.
Price context · AUSD
At publication
$0.9991
Now
$0.9991
Change since
+0.00%
7 days · dashed line = publication
Sources · 3 publishers
The Defiant
Tier 1
Initia Halts L1 and Rollups After Reported Mint Exploit
Cointelegraph
Tier 1
Initia halts blockchain after exploit reportedly drains over $2.6M
Coverage timeline
- First reported by Crypto Briefing
- Also reported by The Defiant
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
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