According to CryptoNinjas, Initia has paused its Layer 1 network and rollup services in response to a security incident that resulted from unauthorized token minting. The company announced the suspension shortly after discovering the exploit.
The incident involved the creation of tokens without proper authorization. Initia’s statement indicated that it is reviewing the affected components and assessing necessary remediation steps.
Following the pause, Initia integrated rollups onto its network as part of its recovery plan. The integration aims to enhance security controls around token issuance while the investigation continues.
No further details on timeline, additional impacted contracts, or exact loss amount beyond the $2.7 M estimate were provided in the announcement.
