Initia Hit by Second Exploit in Less Than Three Weeks
By Damilola Esebame
AI summary of the source article
Layer-1 blockchain Initia halted its network after a second security exploit in under three weeks drained about $3.27 million via compromised cloud infrastructure. Combined with an October breach, total stolen or moved funds reached roughly $5.97 million.
Why it matters
The total $5.97 million stolen or moved across both incidents "will weigh on user confidence in a protocol that has positioned itself as infrastructure for the next generation of Cosmos-based applications."
Key facts
- An attacker stole about $3.27 million on 9 November through a compromised Google Cloud Platform key, causing Initia to halt its Layer-1 on 10 November.
- A previous breach on 23 October drained about $2.7 million through a MoveVM script cache vulnerability, totaling roughly $5.97 million across both incidents.
- About $2.16 million of the assets from the November exploit remain frozen on the halted network.
Source excerpt · FinanceFeeds
Layer-1 blockchain Initia confirmed its second security exploit in less than three weeks after an attacker stole about $3.27 million in crypto assets through compromised cloud infrastructure, Cointelegraph reported on 11 November. The breach forced Initia to halt its network for the second time since an October incident that drained $2.7 million. A Compromised Cloud Key Opened the Door to Five Rol…