Initia Halts Network After Day 0 Bug Enables Unauthorized…
By Abdelaziz Fathi
AI summary of the source article
Initia halted its Layer 1 blockchain and connected rollups on October 23 after an attacker exploited a MoveVM bug. The vulnerability enabled unauthorized token minting, allowing the attacker to bridge out approximately $2.7 million in assets before the shutdown.
Why it matters
Stopping the network limits an attacker's ability to continue exploiting the affected execution path or transfer additional assets while developers investigate.
Key facts
- Initia halted its Layer 1 network and rollups on October 23 after an attacker extracted around $2.7 million in AUSD, ETH, and USDC.
- Preliminary findings point to an unknown bug in Initia's implementation of MoveVM on the Cosmos SDK.
- The vulnerability permitted unauthorized asset minting but did not apply to the native INIT token.
Source excerpt · FinanceFeeds
Initia halted its Layer 1 blockchain and connected rollups on October 23 after a security incident allowed an attacker to mint tokens without authorization and move approximately $2.7 million worth of assets out before the network was stopped. Initia co-founder Ezaan Mangalji said preliminary findings point to a previously unknown bug in the network's MoveVM implementation on the Cosmos SDK. The v…