On 10 November 2026, Initia said that at 06:18 UTC it found unauthorized transfers from multiple Rollup cross-chain asset custody accounts on the L1 mainnet and coordinated with validators to pause L1 operation to limit further losses.
A preliminary investigation indicated that an attacker was suspected of using leaked Rollup infrastructure keys to forge IBC cross-chain transfers. The statement, as reported, does not identify any other verification failure beyond those forged messages.
Before the pause, about 605,000 USDC left Initia through Noble, and about $10,000 of other tokens also moved out, for a combined outflow of about $615,000. Initia said most of the remaining assets transferred from the custody accounts were still on the paused L1.
The project said it was working with security organizations, validators, and exchanges to assess the scope and would publish more information later.
The route in the statement runs from leaked Rollup infrastructure keys to forged IBC messages that moved assets from L1 custody accounts. USDC that exited did so through Noble. Assets that had not left remained on the halted L1. The trust boundary named by Initia is control of those Rollup infrastructure keys.
This account follows Initia’s statement as reported by TechFlow, published 10 November 2026 at 15:44 (UTC+8).
