Yes, there was a security incident: Initia said its L1 and rollups were halted at 15:41:30 UTC on October 23 while it investigated with validators, exchanges, and security teams. Initia’s statement

Yes, there was a security incident: Initia said its L1 and rollups were halted at 15:41:30 UTC on October 23 while it investigated with validators, exchanges, and security teams. Initia’s statement

Researcher Spreek reported unauthorized token minting and about $2.6 million cashed out, with more funds in transit. Ethereum records support a substantial outflow: an address he identified as the attacker received 1.4 million AUSD through LayerZero and swapped it through 1inch, then received about 1 million USDC through Circle’s CCTP bridge and swapped it through 1inch. The transactions show the movements, but do not establish the full incident loss. Spreek’s report, AUSD bridge transfer, AUSD swap, USDC bridge transfer, USDC swap

The same address later sent about 80,000 USDC through 0x and transferred out roughly 1,135 ETH in two transactions. These further movements do not by themselves establish additional proceeds from the Initia incident. USDC transfer, ETH transfer, ETH transfer

Initia has not confirmed the reported minting method or the final loss amount; the $2.6 million figure remains a researcher estimate while the investigation continues.