On November 10, 2026, PANews reported that Initia said on X it had coordinated with validators to pause the Initia L1 at 14:18 Beijing time that day, as a protective measure.
Initia said the pause followed unauthorized transfers from custodial accounts that held assets previously moved cross-chain onto multiple rollups. Its preliminary investigation attributed the transfers to an attacker who used compromised rollup infrastructure keys to forge IBC transfers.
That is the handoff described so far. The trust boundary Initia named is control of those rollup infrastructure keys: once compromised, they could be used to forge IBC transfer messages. The notice does not say the assets were burned or minted, and it does not treat the path as trustless. It reports transfers out of the custodial accounts, with one portion already off Initia.
Before the network pause, Initia’s preliminary review found that about $605,000 in USDC and another $10,000 in tokens had left Initia via Noble. Most of the remaining assets transferred from the custodial accounts were still on the paused L1.
Initia said it was working with security teams, validators, and exchanges to establish the full scope of the incident and would publish further details. It also told users to be wary of unofficial links and messages.
Original report: PANews, November 10, 2026
