initia

🚀$INIT (Initia) — Is This Project Underrated? 👀

🔥 $INIT is bringing modular blockchain technology into the spotlight, aiming to make Web3 more scalable and interconnected.

💎 Could INIT surprise the market in the next crypto rally, or is it still flying under the radar?

📊 Your Opinion Matters! What’s your target for INIT in the next bull run? 👇
$INIT

#INIT #Initia #Crypto #BinanceSquare #Altcoins

Initia just hit the kill switch.

The modular L1 halted its entire network and rollups at 15:41 UTC after an attacker exploited what co-founder Zon calls a "Day 0" bug in its MoveVM implementation — minting tokens out of thin air, then swapping the unbacked stablecoins into ETH through 1inch and 0x.

The numbers: security researcher Spreek's initial estimate put the cash-out at ~$2.6M; Zon says ~$2.7M in AUSD, ETH and USDC got bridged out before the chain was paused. D2 Finance traced the first move to a transaction at 14:59:26 UTC that created 2 million unbacked AUSD — and 153 seconds later, a LayerZero message released 1.4M of it from an adapter on Ethereum. The trail consolidates to roughly 1,135 ETH in a fresh wallet.

INIT fell 14% on the news, then whipsawed back to +14% on the day. Upbit and Bithumb have now suspended INIT deposits and withdrawals and issued an investment warning.

Audited code, serious backing — and a mint bug still shipped. Before you trust a bridge's TVL numbers, what do you actually check?

#CryptoNews #DeFi #Initia #Hack

🚨 $INIT is pumping +14% on a chain that's switched off. This makes no sense. 🤯

Hackers minted tokens, took about $2.6M, and the team paused the whole network.

Korean exchanges froze transfers. And the price goes UP?

Either the market knows the native token wasn't touched, or someone is buying a bounce that can't be sold into. I think it's the second one. 👀

If you're buying this, you're betting on a restart date nobody has announced.

Am I wrong? Tell me why. 👇

#CryptoTrading #INIT #Initia

DYOR | NFA

A turbulent time for public blockchains: L2 chains are shutting down one after another, while L1 chains are being hacked frequently.

Another L1 chain, @initia, was just attacked by hackers and has halted block production.

The hackers exploited a bug related to MoveVM on Initia L1 to mint tokens without limit, then drained the liquidity of real reserves on the Ethereum side through a cross-chain bridge.

So far, the hackers have drained $2.6 million in liquidity from assets bridged to and from Initia.

Initia has a total TVL of just $5.8 million across its entire chain, meaning the hackers have indirectly drained nearly half of the chain's liquidity.

#Initia $INIT

Someone found a money printer on the Initia chain tonight. At 22:59 Beijing time, a transaction minted 2 million AUSD out of thin air. Two and a half minutes later, 1.4 million real AUSD was swapped out via LayerZero from the Ethereum side, along with some USDC. The attacker made off with around $2.7 million in total, now consolidated into 1,135.5 ETH (about $2.73 million) sitting in a new wallet.
　
At 23:41, the team officially halted L1 and all rollups. Co-founder Zon said it was a zero-day vulnerability in MoveVM on Cosmos SDK; native INIT was unaffected. The final loss figure has yet to be announced. The information comes from The Block and an on-chain breakdown by D2 Finance.
　
INIT’s price action is pretty wild. During the hour of the incident, it plunged from 0.1355 to 0.1134, down 16%, then shot straight up to 0.1554 the following hour. It’s now hovering around 0.149, actually up 15% over 24 hours. My take is that this kind of rally while the chain is still halted looks more like shorts getting squeezed. Neither a restart time nor a compensation plan has been announced.
　
I’ll keep watching. If that 0.1134 wick gets taken out again, it means the market is starting to price in the chain halt.
　
$INIT $ETH
　
#Initia #HackAttack

I came across an official post from Initia: At around 15:41 UTC on Oct. 23 (about 23:41 Beijing time), the L1 mainnet and all Rollups were paused due to a security incident. The team is investigating the scope of the impact with security teams, validators, and exchanges, and has warned users not to click unofficial links.

The on-chain details are more concerning: Researchers say someone exploited an “infinite mint” vulnerability, minting about 2 million AUSD out of thin air in a single transaction, then bridging assets worth about $2.6 million back to Ethereum. There are also reports that Upbit has suspended INIT deposits and withdrawals. Multiple audits notwithstanding, a minting-permission vulnerability brought the entire stack to a halt—a risk that is rarely priced in under normal circumstances.

#$INIT #Initia #Security incident

The key points of the security incident related to Initia are clear: attackers exploited a vulnerability to make a profit of about $2.7 million, but the official native asset $INIT was not affected. For ordinary users, this statement needs to be unpacked: a problem with a protocol or wrapped asset does not necessarily mean the native coin of the blockchain is compromised; conversely, the native coin being safe does not mean that cross-chain features, approvals, front ends, and contracts across the ecosystem are all safe.

The three most important things now are for the team to publicly disclose the root cause and scope of the vulnerability, explain its plans for recovering or compensating for the funds, and for users to promptly check for and revoke suspicious approvals. Until the incident has been fully assessed, don't let your guard down just because the “native coin was unaffected,” and don't click claim links from unofficial channels.

Security incidents are often a test of asset isolation and emergency response. Subsequent disclosures deserve more attention than short-term price reactions.

#Initia #Web3安全 #CryptoRisk

A security vulnerability was discovered in the INITIA ecosystem, which attackers exploited to make approximately $2.7 million. It is important to distinguish that the incident centers on the affected component, not INITIA’s native asset: current information indicates that native INIT was not affected, so holders should not simply assume that “the INIT token contract was hacked.”

This incident is another reminder that the risks of ecosystem protocols, surrounding components, and integrated contracts are not the same as risks to the underlying token itself. After an incident, it is more important to focus on the scope of the financial impact, the affected contracts, and the team’s subsequent disclosures than to panic-transfer funds or blindly revoke approvals just because a project name sounds similar.

Short-term price fluctuations may be driven more by sentiment. Going forward, the key questions are whether the team can provide a comprehensive vulnerability analysis, remediation progress, audit findings, and a user compensation plan. Security is never a one-time audit; it requires continuous verification.

#INITIA #Web3安全 #Altcoin

The INITIA security vulnerability incident continues to draw attention. Current reports indicate that the attack caused losses of approximately $2.7 million, but the network’s native token, INIT, was not directly affected.

It is important to distinguish between two things: exploitation of a vulnerability does not mean the native asset itself has a problem; the attack surface was more likely in related contracts, integrations, or business logic. In the short term, users should focus on official updates, the scope of the impact, progress on recovering funds, and details of subsequent audits. If you have interacted with any affected contracts, check your approvals promptly and revoke any suspicious permissions.

Security incidents test a team’s response time, transparency, and compensation mechanisms—not just the vulnerability itself. Be patient, and avoid trusting third-party links or so-called “compensation claim” pages.

#区块链安全 #INITIA #Web3Security

INITIA was reportedly hit by a security vulnerability, which attackers exploited to make about $2.7 million. Fortunately, officials confirmed that the native INIT token was unaffected, and no broader risks to core on-chain assets have emerged so far. The incident is another reminder: in new blockchain and cross-chain ecosystems, contract vulnerabilities and permission settings can be more damaging than price fluctuations. Users should follow official announcements and beware of airdrops and unfamiliar links. Project teams should also complete audits, test drills, and emergency plans before launch. Security is not a cost—it is a baseline. #Web3安全 #INITIA

A security incident involving INITIA has drawn attention: exploitation of a vulnerability caused losses of approximately $2.7 million, but the native asset INIT was unaffected. It’s important to distinguish between an issue with an ecosystem component and a compromise of the underlying network or native asset—they are not the same thing. Token holders need not panic, but should follow official announcements, revoke suspicious approvals, and watch out for fake refund offers, customer service accounts, and phishing links.#INITIA #Web3 Security

【Market Alert】A 5-second shutdown, and $2.7 million still got away! Just 5 seconds after Initia halted its L1 and Rollup, the attacker transferred 1,135 ETH to a second wallet.

At 15:03, they had already swapped 1.4 million AUSD for ETH via 1inch—more than 20 minutes before the alert. By the time Agora froze AUSD at 16:31, its balance was already zero.

If even a shutdown couldn't stop it, can Initia weather this?

$ETH $INIT $AUSD
#Initia #黑客攻击 #Ethereum
(Source: Cryptopolitan)
⚠️Risk warning: The above is shared for informational purposes only and does not constitute investment advice. Investing involves risks; please exercise caution.

Initia has been hacked! A zero-day vulnerability in MoveVM was exploited to mint unlimited tokens, draining around $2.7 million in AUSD/ETH/USDC in one go. The team shut down both the L1 and rollups, while Upbit and Bithumb quickly suspended INIT deposits and withdrawals and issued investment warnings. The co-founder admitted it was a Day 0 vulnerability. The token price first plunged 14%, then bounced back. Was halting the chain to limit losses a real rescue or just treating the symptoms? What do you think?

#Initia #黑客攻击 #区块链安全 #CryptoNews

$INIT This downturn isn’t an ordinary pullback—it’s a crisis of confidence.

Initia was reported to have an on-chain security vulnerability that allowed attackers to mint tokens without limit and cash out approximately $2.6 million. L1 and Rollup were subsequently suspended, South Korean exchanges issued investment warnings, and TVL fell to just around $5.9 million, significantly damaging market confidence. The current price is approximately $0.13077, with 24-hour trading volume of around $5.4 million and a market cap of approximately $27.56 million.

The key issue isn’t the short-term price drop, but that “unlimited minting” directly undermines the token’s supply model. Even if the team fixes the vulnerability, security audits, compensation plans, the timeline for restoring the chain, and the exchanges’ stance will continue to affect sentiment.

Technical issues can be fixed; rebuilding trust often takes longer. Don’t rush to buy the dip—first watch how the vulnerability is handled, whether funds are recovered, and how transparently the project team communicates.

#Initia #链上安全 #CryptoRisk

$INIT This pullback is not ordinary market volatility; it reflects a breakdown in on-chain security. The vulnerability allowed attackers to mint tokens without limit and transfer out approximately $2.6 million, directly impacting the circulating supply. L1 and Rollup were subsequently halted, South Korean exchanges issued investment warnings, and TVL fell to just $5.9 million, significantly undermining market confidence.

The current price is around $0.1308, with 24-hour trading volume of approximately $5.4 million and a market cap of about $27.56 million. The data points to selling pressure and risk aversion reinforcing each other: the chain halt undermines usability, regulatory warnings make exchanges more cautious, and low TVL makes it harder for funds to return quickly.

In the short term, the key issue is not “how far the price has fallen,” but whether the scope of the unauthorized minting can be audited, a timeline for restoring the chain can be provided, and user compensation can be clarified. Until a full investigation report is released, it is more appropriate to treat this as an event-driven risk than to rush in and buy the dip.

#Initia #链上安全 #Risk Warning

$INIT This sell-off looks more like a crisis of confidence than a routine pullback.

An on-chain security vulnerability allowed attackers to mint tokens without limit, and about $2.6 million in funds has already been transferred out. L1 and Rollup services were then suspended, and South Korean exchanges issued investment warnings—news that is clearly unfavorable for bulls.

More concerning is that current TVL is only about $5.9 million, compared with a market cap of about $27.56 million and 24-hour trading volume of about $5.4 million. Low TVL can amplify volatility during panic, and offers little support for the claim that the price has fallen to an attractive level.

With incidents like this, first watch to see whether the team provides a complete vulnerability analysis, a compensation plan, and a recovery timeline, rather than rushing to catch a falling knife. Until the situation is clarified, exercise caution with both position sizes and leverage.

#Initia #区块链安全 #INIT

Initia’s decline this time is not an ordinary correction, but a reassessment of trust triggered by a security incident. The vulnerability allowed attackers to mint unlimited tokens and cash out approximately $2.6 million. This was followed by the suspension of the L1 and Rollup, an investment warning from South Korean exchanges, and TVL falling to just around $5.9 million. Together, these events directly undermined asset availability, compliance expectations, and investor confidence.

$INIT is currently trading at around $0.1308, with approximately $5.4 million in 24-hour trading volume and a market cap of about $27.56 million. In the short term, the key factors are not just the vulnerability fix, but also the progress of on-chain recovery, exchanges’ subsequent actions, and whether the team can rebuild transparency.

Technical patches can be completed quickly, but restoring user trust usually takes longer. Until on-chain operations resume and market sentiment truly stabilizes, volatility may remain high. Avoid chasing rebounds blindly, and be sure to manage position sizes.

#Initia #安全事件 #Cryptocurrency

Chain hacked and halted, but INIT jumps 16%
Bottom line: The chain is down and it’s still up 16%. I don’t get it, and I can’t bring myself to buy.

At 11:41 last night, Initia officially announced that its L1 and all Rollups had ground to a halt.

Spreek was the first to spot it: A hacker exploited a “Day 0” MoveVM vulnerability to mint 2 million AUSD without authorization, then bridged out around 1.4 million AUSD, 105 ETH, and 1.08 million USDC. The funds were consolidated in an Ethereum wallet holding 1,135.5 ETH, worth $2.73 million.

Upbit immediately suspended INIT deposits and withdrawals and issued a risk warning.

Co-founder Zon personally acknowledged the vulnerability, but added that the bug “does not affect the native INIT token.”

As soon as the news broke, INIT got slammed 14%, with a sharp wick down to 0.113, then promptly bounced back.

As I’m writing this, INIT is at 0.151, up 16% in 24 hours. Futures volume is $34.9 million, and funding rates are near zero—neither longs nor shorts have gained much ground.

Put simply, this is a classic “the bad news is out” sentiment play.

The chain really is down. There’s no restart time yet, the hacker could dump 1,135 ETH at any moment, and nobody knows whether the vulnerability has been fixed.

But the market has chosen to ignore all that, based solely on the co-founder’s line that it “does not affect the native INIT token.” The assets stolen were AUSD and bridged assets, so the bulls have something to cling to.

I don’t think that logic holds up.

With the chain down, the ecosystem’s DEXs, lending protocols, and Rollups are all out of action. INIT’s fundamentals are basically zero. This 16% move is purely short covering after the sell-off plus a sentiment bounce—it has nothing to do with value.

I can’t bring myself to touch a coin whose chain is halted. Just watching.

Here’s what would make me admit I’m wrong: If it holds above 0.1556, that would show the market really doesn’t care about the $2.7 million or the shutdown, and I’ll admit I was wrong.

If it breaks below 0.13 (around the 24-hour open), sentiment will fizzle. First, I’d look at last night’s low of 0.115; below that, it’s 0.10.

So, which side are you on?

Is this a case of the chain being down while the token keeps rising and sentiment rules the day, or will the hacker dump 1,135 ETH and send INIT back to 0.115?

I’m betting on the latter. What about you?

$INIT $ETH $BTC
#Initia #Hacker

Initia, the modular L2 newcomer that launched with top-tier specs, went and halted its own chain last night.

Security researcher Spreek uncovered that hackers found a vulnerability and minted tokens like crazy, cashing out around $2.6 million. Initia officially announced overnight that it was suspending L1 and all Rollup services; South Korean exchanges Upbit and Bithumb both suspended $INIT deposits and withdrawals and issued investment risk warnings.

A decentralized public blockchain gets attacked, and the first response is—to pull the plug.

The comment section is open. Sound off.
A: Halting the chain to limit losses is responsible; the hacker loses, not the users.
B: Isn’t this just a single point of failure controlled by the team? What happened to decentralization?

$BTC $ETH
#Initia #黑客 #Decentralization

🚨 Initia Chain Hit by “Infinite Minting”: Hacker Cashes Out $2.6M, Mainnet + All Rollups Halted!

📌 What happened
• Late on 10/23, security analyst Spreek sounded the alarm: Initia has an “infinimint” vulnerability, allowing multiple tokens to be minted without limit
• The attacker has cashed out around $2.6 million, with the initial funds coming from Tornado Cash
• At 23:41 (UTC+8), the team announced a halt to the L1 mainnet and Rollups. It is investigating with security teams, validators, and exchanges
• South Korea’s Upbit has suspended INIT deposits and withdrawals

🔍 The three things I’m most concerned about
1️⃣ Share of losses: According to Cobak, on-chain TVL is around $5.9 million, so $2.6 million is about 44%—and funds are still being moved
2️⃣ The attacker’s address still holds around $4.54 million in assets on Initia Chain (iUSD, USDC, AUSD, etc.). Whether these can be frozen is key
3️⃣ Is this a vulnerability in the core minting logic, or in a specific application? The official postmortem will determine whether $INIT is a “one-off negative catalyst” or a “collapse of trust”

⚠️ A few reminders
• During the incident, don’t click any “compensation/airdrop/migration” links—phishing attempts may take advantage of the chaos
• This project is backed by institutions including Binance Labs and has undergone multiple audits, yet this still happened—“audited ≠ secure”
• The more components a modular architecture has, the larger its attack surface. Be sure to manage your position size when investing in new chains

👉 Do you think INIT will plunge when trading resumes, or has the “bad news already been priced in”? Share your thoughts in the comments 👇

$INIT $ETH
#Initia #链上安全 #CryptoMarket

Personal opinions only; not investment advice