Initia's INIT token jumps 80% despite Layer 1 network halt after unauthorized transfers.

Initia's INIT token surged 80% within 24 hours on Nov. 10, even as its Layer 1 blockchain was paused due to unauthorized transfers from a custody account. The project halted the network early that day as a protective measure after detecting compromised keys used to forge Inter-Blockchain Communication transfers, moving about $605,000 in USDC and $10,000 in other tokens out before the halt. Most assets remained on the paused network, and the incident highlights security risks in blockchain custody. The project is investigating further to assess the full impact and next steps.

Initia's INIT token is trading at Rp4,041 on Pluang as of Nov 10, 2026 15:11 WIB, showing a strong 1-day gain of 72.88%. The token's market cap stands at Rp897.51 million, with a 24-hour trading volume reaching Rp1.88 trillion. Despite the recent security issues reported, Pluang data shows a majority of sell orders at 62%, while typical holders keep their tokens for about 16 days.