Initia co-founder: The exploit involves MoveVM, native token INIT unaffected.

October 24: Zon, co-founder of Initia, stated that based on currently available information, this security incident may have originated from a Day 0 vulnerability in Initia's MoveVM based on the Cosmos SDK, which allowed attackers to mint additional tokens on Initia L1, but does not affect the native token INIT.

Zon added that before the blockchain was paused, the attacker had already transferred out approximately $2.7 million worth of AUSD, ETH, and USDC through additional minting and cross-chain transfers. The team is still investigating the incident, and the subsequent impact and further details remain to be confirmed.