DeFi▼ Bearish

Initia bridge USDC reserve drops to $63 after hack, withdrawals fail

TradingGain Newsroom·3d ago·25 Oct 2026, 19:45 UTC

A hack pushed the USDC bridge reserve for Initia down to $63, and users could not complete withdrawals. Bitquery linked the failed exits to weak backing for Initia balances, and the project has outlined a patch and ongoing recovery work.

Why it matters

A near-empty USDC bridge reserve can leave users unable to withdraw their funds.
Bitquery tied the failed exits directly to depleted backing for Initia balances.
The project's patch and recovery work will show whether confidence in the bridge can return.

What to watch next

Watch whether the announced patch goes live and whether withdrawals start succeeding again.

This brief is written by TradingGain from public reporting by CryptoSlate.Read original ↗

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