Initia suffered a security incident involving the unauthorized minting of multiple assets on its L1. The attacker reportedly transferred and converted some of the minted assets into Ethereum-based holdings. Initia halted its L1 and rollups while investigating the vulnerability and coordinating with validators, exchanges, and security teams

The Initia L1 and its Rollups were halted due to a security incident. An attacker exploited a zero-day (Day 0) bug in Initia's MoveVM implementation on the Cosmos SDK, allowing unlimited minting of unbacked tokens on the L1, and bridged out approximately $2.7 million worth of AUSD, ETH, and USDC before the chain was paused. Native INIT tokens were unaffected.