Initia Halted Again: L1 Paused After $605K Unauthorized Transfers
Key Takeaways
Initia halted again on November 10 and paused its main chain after unauthorized transfers from escrow accounts that hold bridged assets. About $605,000 in USDC and $10,000 in other tokens left before the pause.
Most of the rest is still on the halted chain, and the team says its findings are early.
Initia halted again at 06:18 UTC on November 10, when its L1 was paused with validators as a safety step. The project says an attacker used compromised rollup keys to fake cross-chain transfers.
This is the second pause in under three weeks, so users want to know if their funds are safe and when the chain will return.
What Happened When Initia Halted Again on November 10?
Initia said it paused the L1 after it found unauthorized transfers from escrow accounts. These accounts hold assets bridged to several rollups.
An escrow account is a locked account that holds tokens while they move between chains, and a rollup is a smaller chain that runs on top of the main one.
The team said about $605,000 in USDC left through Noble, a network that moves USDC between chains, along with about $10,000 in other tokens. All of it left before the pause took effect.
How Did Attackers Use Compromised Rollup Keys and IBC Transfers?
According to the team’s post, early checks point to compromised rollup keys that let an attacker forge IBC transfers. Keys are secret codes that approve actions on a chain. IBC is the system chains use to send tokens to each other.
A fake transfer can look real if the key falls into the wrong hands. The team added that most of the assets moved out of the escrow accounts are still on the halted L1, which may help to get them back.
Initia Halted Again: Confirmed Details
The final loss total, and the names of the affected rollups have not been shared in the sources reviewed. Those points are unconfirmed.
How Is This Different From the Earlier Initia Halt?
Initia also paused its network on October 23 and restarted it on November 2, as its earlier updates show. Reports tied that first halt to a software flaw, while this one involves compromised keys.
The two events look like different problems. For anyone who follows crypto news, a fix for one weak spot does not close all the others.
Is Initia Down and Are User Funds Safe?
Initia is down for now because the L1 was halted, and no restart has been shared in the sources reviewed. The team has not said that user funds are safe or lost.
It says it is still working with security teams, validators, and exchanges to learn the full scope. It also asks users to be careful with unofficial links, messages, and claims, since scams often follow a hack.
What Should INIT Holders Do After Initia Is Halted Again?
Check the official Initia account for news before you move any funds, and do not click links in replies or direct messages. Exchanges may pause deposits and withdrawals during a halt, so look at your exchange news too. The INIT price can swing hard during an event like this, so avoid trading on fear or on one headline.
The Bottom Line
Initia halted again after about $615,000 in tokens left the chain, and the team says it is still working out the full scope. Until it shares a restart plan and a clear summary, readers should trust only official posts.
YMYL Disclaimer: This article is for information only and is not financial, legal, investment, or trading advice. Crypto assets are volatile, so always check official sources first.
