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Initia halts blockchain after $2.6M stolen in unauthorized token minting hack

Market News
23 Oct 2026
Crypto news
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Bearish
Initia halts blockchain after $2.6M stolen in unauthorized token minting hack

Initia suspended its layer-1 blockchain and rollups after a security breach led to unauthorized minting of tokens and an estimated $2.6 million stolen. The incident, reported by researcher Spreek, involved unbacked stablecoins and Ethereum transfers, with investigations ongoing to determine the full impact and losses. Initia is working with security teams and exchanges to assess the damage and urged users to be cautious of unofficial information. The platform's restart timeline remains unclear as the investigation continues.

Initia's recent blockchain halt follows a significant security breach. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 24, 2026 04:02 WIB: out of 50 major cryptocurrencies, 39 rose and 10 fell. Notable movers include ATOM at Rp31.352 (+2.40%), LUNC at Rp0,83 (+2.31%), and ETC at Rp141.197 (+2.25%).

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