Initia said on X that its layer-1 network was paused at 14:18 Beijing time on November 10, in coordination with validators, as a protective measure after unauthorized transfers were found in custodial accounts that held assets bridged to multiple rollups.
PANews reported the statement on November 10, 2026. Initia’s preliminary investigation indicated that an attacker used compromised rollup infrastructure keys to forge IBC transfers.
According to Initia’s preliminary review, about $605,000 in USDC and $10,000 in other tokens left Initia via Noble before the pause. Most of the remaining assets transferred from the custodial accounts were still on the paused layer-1.
Initia said it was working with security teams, validators, and exchanges to determine the full scope of the incident and would publish further details. It also warned users to be wary of unofficial links and messages. The loss figures and findings were described as preliminary.
Original report: PANews, November 10, 2026.