Initia Spots Those Compromised Rollup Keys 🕵️
Last night on X the crew posted they were digging into an issue messing with rollup infrastructure and decided to hit pause temporarily. We have not spotted any hit to user funds and hope the rollups kick back into block production soon tho the team noted at first. Today tho things shifted when they confirmed halting L1 ops at 06:18 UTC after spotting those fake transactions draining the escrows. The theft came from hacked rollup keys letting the attacker fake IBC transfers and snatch about 605000 dollars in USDC via Noble plus another 10000 in random tokens before validators froze everything 💸🔥. Most of the other moved assets are still stuck on the L1 tho and the team is still piecing together the full damage while promising more updates as they drop.Back To Back Exploits Hit Hard Less Than A Month Apart 🌪️
This marks the second nasty blow for Initia in under three weeks after an attacker abused a MoveVM cache flaw to mint fake WETH iUSD and USDC without touching supplies. The thief bridged out nearly 2.7 million dollars through LayerZero and Noble before the pause and later flipped it all into 1135 ETH. The foundation stepped in with funding to restore 1 to 1 backing covering up to 1.08 million USDC 105 ETH and 1.4 million AUSD0. Ops resumed on November 2 after fixes like an audited MoveVM patch and isolating the forged bags but these double whammies feel all too common in crypto fr. Even with the L1 halt the INIT token surged almost 60 percent in 24 hours and over 71 percent in seven days per CoinGecko while staying green on longer windows too ✨.Just another echo from the void by iconofsin.eth 💖
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