Initia said its L1 and rollups halted at 15:41:30 UTC on October 23 because of a security incident; its statement says the team was investigating with validators, exchanges, and security teams, but does not identify the technical cause. Initia’s statement

InitiaOct 23, 2026, 16:40 UTC

Spreek reported tokens were “infiniminted” and about $2.6 million cashed out, with more in transit. On Ethereum, the address he identified as the attacker received 1.4 million AUSD through LayerZero, swapped it through 1inch, then received about 1 million USDC through Circle’s CCTP and swapped it through 1inch. This verifies substantial token movements, but does not establish that the full $2.6 million came from the incident or determine total losses. Spreek’s report AUSD bridge transfer AUSD swap USDC bridge transfer USDC swap

Initia has not confirmed the minting method, the final loss, or the scope of impact. The reported unauthorized mint and $2.6 million cash-out remain unconfirmed by the project; the available sources do not establish the technical cause or a verified total loss.

Ask your own

Case file

Initia

Answered Oct 23, 2026, 16:40 UTC

Sources 6

Research trace 9

The linked original X post
Latest posts of @initia
Latest posts of @WuBlockchain
Latest posts of @DefiantNews
The page thedefiant.io
Initia confirms the halt and investigation, while Spreek’s minting claim and roughly $2.6 million cash-out remain unverified. I’m looking for later official updates and independent evidence that clarifies the technical cause, verified impact, and whether the reported cash-out estimate has changed.
Initia has confirmed the halt and investigation, while Spreek’s unauthorized-mint claim and roughly $2.6 million cash-out remain unconfirmed by the project. I’m checking the sample mint transaction, any later official update, and the identified Ethereum address’s activity for independently verifiable impact.
Initia has confirmed the halt and investigation, but has not identified the technical cause. The on-chain evidence verifies substantial stablecoin movements attributed by Spreek to the attacker; whether those movements account for the reported $2.6 million cash-out or establish the total loss remains open.
Initia confirms the halt and investigation, while the researcher’s minting claim and cash-out estimate remain only partly corroborated by the reported evidence.