Initia Mint-Bridge Exploit
What’s new
Initia says a security fix for the October 23 MoveVM incident is drafted and under audit with security partners. After audits, it plans to publish concrete recovery and orderly L1/rollup restart steps — still no dated reopen clock. Korean trading-caution flags and the parked 1,135.52 ETH trail remain open.
Timeline
- Oct 27, 2026 · 7:28 a.m. PDTInitia says October 23 security fix is drafted and under partner auditFifth chapter — patch draft under partner audit; post-audit recovery/restart plan still ahead.
- Oct 25, 2026Upbit, Bithumb, and Coinone put Initia INIT on trading caution after security incidentFourth chapter — Korean CEX trading-caution designations; deposits/withdrawals still suspended.
- Oct 25, 2026Bitquery: Initia USDC bridge reserve fell to $63 as withdrawals failedThird chapter — Noble USDC reserve $1.09M→$63; 55 failed exits; ~$2.73M real vs ~$7.48M face-value prints.
- Oct 24, 2026Initia exploit assets hit Ethereum in 7 minutes 21 seconds, TokenPost saysSecond chapter — LayerZero/CCTP timing; AUSD/ETH/USDC path detail after halt.
- Oct 23, 2026Initia halts L1 and rollups after ~$2.7M mint-to-bridge exploitOpening chapter — MoveVM mint bug; ~$2.7M bridged out; L1 + rollups halted.
What’s next
- Published post-audit recovery plan + dated orderly L1/rollup restart steps.
- Korean venue updates: caution release, withdrawal reopen, or delist (Coinone ~1 month; Bithumb late Nov).
- Noble Initia USDC reserve refill above the ~$24,000 post-attack print before any restart.
- Whether wallet 0x358ef0130f7a5aa516dcd81bdc80b18cde41cac8 moves the parked 1,135.5 ETH.
- Stop when restart + reserve refill are routine and trail quiet ~48h with no new primary source.