Initia Halts L1 and Rollups After Reported Mint Exploit, Agora Freezes Linked AUSD Account
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· body · New information from a source
Initia halted its layer-1 blockchain and associated rollups after an attacker exploited a mint function to create tokens, according to The Defiant and The Block.Analyst Spreek estimated $2.6 million had been cashed out, while The Block reported onchain data showing a $2.7 million ether transfer.Ethereum records show the attacker conducted stablecoin swaps and transferred 1,135.5 ETH, per The Defiant.- Initia halted its layer-1 network and associated rollups after a reported mint exploit, according to The Defiant and The Block.
- Analyst Spreek estimated that $2.6 million had been cashed out, The Defiant reported, citing Ethereum records showing stablecoin swaps followed by a transfer of 1,135.5 ETH.
- The Block reported separately that onchain data shows a $2.7 million ether transfer as Initia works to determine the scope of the incident.
- Agora froze an AUSD account tied to the exploit, according to The Defiant.
- The stablecoin issuer said it has no smart contracts deployed on Initia, indicating the exploit instead struck a third-party product built using AUSD.
- The targeted Ethereum account had already swapped 1.4 million AUSD for ETH before the freeze, The Defiant reported, and Ethereum records show the 1.4 million AUSD had moved out of a bridge adapter.
· summary · New information from a source
Initia suspended its L1 and rollups following a reported mint exploit that drained between $2.6M and $2.7M in ether.- Initia paused its L1 and rollups after an attacker reportedly minted tokens and moved funds through Ethereum, prompting Agora to freeze a linked AUSD account.
· headline · New information from a source
Initia halts L1 and rollups after attacker exploits mint function- Initia Halts L1 and Rollups After Reported Mint Exploit, Agora Freezes Linked AUSD Account
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Initia halted its layer-1 network and associated rollups after a reported mint exploit, according to The Defiant and The Block.
Analyst Spreek estimated that Analyst Spreek estimated $2.6 million had been cashed out; Ethereum records show stablecoin swaps and a later 1,135.5 ETH transfer.
had been cashed out, The Defiant reported, citing Ethereum records showing stablecoin swaps followed by a transfer of 1,135.5 ETH. The Block reported separately that onchain data shows a Onchain data shows a $2.7 million ether transfer as Initia investigates the scope of a security incident.
ether transfer as Initia works to determine the scope of the incident.
Agora froze an AUSD account tied to the exploit, according to The Defiant. The stablecoin issuer said it has no smart contracts deployed on Initia, indicating the exploit instead struck a third-party product built using AUSD. The targeted Ethereum account had already swapped Agora says it has no contracts on Initia; the targeted Ethereum account had already swapped 1.4 million AUSD for ETH.
AUSD for ETH before the freeze, The Defiant reported, and Ethereum records show the 1.4 million AUSD had moved out of a bridge adapter.
Initia has not yet confirmed the total amount affected or when its network and rollups will resume normal operation, per the available reporting.
Sources: The Defiant, The Block
This article is for information only and is not financial advice.
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Story so far 2 updates
- flashInitia halts L1 and rollups after attacker exploits mint functionfirst reported · 2 sourcesthedefiant.io · theblock.co
- storyInitia Halts L1 and Rollups After Reported Mint Exploit, Agora Freezes Linked AUSD Accountupdate · 2 sourcesthedefiant.io · theblock.co
