According to Unchained, the Initia protocol halted operations after an attacker minted tokens and transferred approximately $2.7 million via a bridge.
The incident occurred when unauthorized activity allowed the creation of tokens within the system and enabled the outbound movement of funds through a cross‑chain bridge.
Initia has not yet established a date for resuming normal functionality; officials have indicated that no restart timeline has been determined at this time.
The focus remains on investigating the breach, securing affected components, and assessing necessary remediation steps before any service restoration.
