Altcoins▼ Bearish

Initia pauses its chain after exploit reportedly drains over $2.6M

TradingGain Newsroom·5d ago·23 Oct 2026, 18:39 UTC

Initia has suspended its layer-1 network and its rollups after security researchers spotted unauthorized token minting. Reports say millions in assets were moved to Ethereum, with total losses reportedly above $2.6 million. For traders, the incident is a reminder that security failures in smaller blockchains can halt activity and hit token prices quickly.

ETHAt the time of writing, Ethereum traded at $2,402 (+0.75% in 24h).Live price →

Why it matters

Security researchers found unauthorized token minting on the Initia network.
Reports say over $2.6 million was drained, with millions transferred to Ethereum.
The network and its rollups were suspended, pausing activity across the whole chain.

What to watch next

Watch for Initia's next update on when the network will restart and how the moved funds will be handled.

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

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.