Initia: L1 halted due to unauthorized transfer, approximately $605,000 USDC transferred out via Noble.

November 10 - According to an official post from Initia, Initia L1 was paused at 14:18 (06:18 UTC) on the same day after coordination with validators, as a protective measure. Initia stated that this step was taken after discovering unauthorized transfers from a custody account on Initia L1 holding assets bridged to multiple Rollups.

Initia said that current investigation shows the relevant transfers were completed using compromised Rollup infrastructure keys, which the attacker used to forge IBC transfers. Preliminary verification shows that before the network pause, approximately $605,000 in USDC was transferred out of Initia via Noble, along with approximately $10,000 in other tokens. Most of the remaining assets transferred from the custody account currently remain on the halted L1.

Initia stated that it is working with security teams, validators, and trading platforms to clarify the full scope of the incident and will share updates as more information becomes available. The official also reminded the public to be cautious of unofficial links, messages, or related claims.