Initia restarts after nine-day halt triggered by $2.7 million exploit

Initia’s Layer-1 and its rollups came back online on Monday morning after more than nine days offline. The team applied a verified patch to the MoveVM vulnerability that had been exploited on 23 October.

Attackers minted two million unbacked AUSD tokens and moved roughly 1.4 million AUSD, 105 ETH and 1.08 million USDC across bridges, totaling about $2.73 million. The native INIT supply stayed unchanged.

The Initia Foundation pledged one-to-one compensation for affected users. Stablecoin issuer Agora froze the hacker’s addresses, while Upbit halted INIT deposits and withdrawals.

The token first dropped 14 % on the news but recovered sharply, rising 53 % to $0.272 by 29 October. Full bridge and withdrawal functions are scheduled to resume on 2 November.

Based on information from cryptonews.net