Initia Suspends Blockchain Due to a $615,000 Attack; Native Token Price Rises by Over 60%
2026-11-10 19:33:25
According to CoinMeta, Initia announced a suspension of its Layer-1 blockchain due to an attack costing $615,000, which is the second time in less than three weeks that the network has been suspended. The attackers used stolen Rollup infrastructure keys to carry out unauthorized transfers. Nevertheless, the native token of Initia rose by over 60% during this period. According to a statement on November 10th, the network stopped producing blocks at UTC time 06:18, and the team coordinated with validators to prevent further unauthorized transfers. Preliminary investigations found that the attackers accessed the custody accounts of assets that were bridged between the main Initia blockchain and Rollup connected to it. Initia stated that the suspension was a precautionary measure, and the investigation is still ongoing.
Source:Cryptonews
This content is for market information only and does not constitute investment advice.
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