Initia halts L1 and Rollups after reported $2.7M infinite-mint exploit in MoveVM

Initia's L1 and Rollups were halted as of 15:41:30 UTC on October 23, 2026, according to the project's official statement, as it investigates a security incident. Co-founder Zon's early read attributes the flaw to Initia's MoveVM, with about $2.7M in AUSD, ETH and USDC minted and bridged out before the pause. The chain has been down since 11:41 a.m. ET with no restart time.

Detected & updated continuously · Source: Nebula