Initia Halts L1 and Rollups After $2.7M Exploit Tied to Unauthorized Token Minting

2 hours ago 4

Key Takeaways:

After facing a security incident due to unauthorized token mints, Initia has suspended its Layer 1 and has integrated rollups onto its network.
Initial estimates of the attacker’s outflow from the AUSD, ETH and USDC projects hover around $2.7 million.
Full effects are not confirmed and Initia stated it was working with the validators, exchanges, and security teams.

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