PANews reported on November 10, 2026, 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 step.
Initia said it had found unauthorized transfers out of custodial accounts holding assets that had been bridged to multiple rollups. Its preliminary investigation indicated an attacker used compromised rollup infrastructure keys to forge IBC transfers.
Initia’s initial review, as relayed by PANews, put the amount that left Initia via Noble before the pause at about $605,000 in USDC plus another $10,000 in other tokens. Most of the rest of the assets moved from those custodial accounts were still on the paused L1 at the time of the statement.
Initia said it was working with security teams, validators, and exchanges to establish the full picture and would publish more details later. It also told users to be wary of unofficial links and messages.
The report does not identify the attacker, confirm a final loss figure, or describe what happened to funds beyond the preliminary Noble outflows. Those points remained open when PANews published.
Original report: PANews