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janitor @initia prev. @

[Initia Foundation 🪢 @initiaFDN]

Initia Foundation has approved funding to fully restore the 1:1 backing for affected Noble USDC, WETH, and AUSD0 held as iUSD collateral.

Funding will cover verified shortfalls up to 1.08M USDC, 105 ETH, and 1.4M AUSD0 following reconciliation and final transfer approval.

[Initia 🪢 @initia]

A security fix to patch the identified vulnerability from October 23rd has been drafted and is currently under audit with security partners.

Once the audits are completed, we will provide concrete plans for restoring the backing of affected assets and the orderly restart of the Initia L1 and Rollup networks.

We expect to complete this process in the coming days.

Thank you for your patience, and please remain cautious of unofficial links, messages, or claims.

[Initia 🪢 @initia]

At 14:59 UTC on October 23rd, an attacker exploited a bug in Initia MoveVM’s script caching that allowed malicious code to bypass security checks. The attacker artificially spoofed the MoveVM state, thereby crediting themselves with unbacked WETH, iUSD, and USDC tokens without changing the corresponding token’s total supply. No native INIT was minted, and the total INIT supply is unaffected.

Before the network was halted, the attacker bridged out roughly $2.7M, comprising of 105 WETH and ~1.4M AUSD0 via LayerZero along with ~1.08M USDC via Noble and CCTP. The tokens were swapped for 1,135.52 ETH and currently sit in 0x358ef0130f7a5aa516dcd81bdc80b18cde41cac8 on Ethereum Mainnet.

We are actively working on a security fix to patch the identified vulnerability. We expect this to be completed and audited in a few days. Additionally, asset recovery efforts are ongoing with the help of security partners.

The Initia L1 and Rollups remain halted as we work toward a resolution. We hope to safely resume network operations as soon as possible and will provide a full post-mortem once available. In the meantime, we will continue to share verified updates through our official channels.

Please remain cautious of unofficial links, messages, or claims.

[zon 🪢 @ItsAlwaysZonny]

to the best of our knowledge so far, this is a Day 0 bug related to Initia's MoveVM on CosmosSDK that allowed the exploiter to mint additional tokens on the Initia L1 but does not apply to native INIT tokens.

the attacker was able to mint and bridge out ~$2.7m worth of AUSD, ETH, and USDC before the chain was paused.

[red @RedactedRed_]

@GlyphUniverseAI https://t.co/dAdTV6X4ym

[red @RedactedRed_]

calling all promptmaxxers!!!

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$100+ up for grabs if you & claude can figure out how to beat him

[jessie 🪢 @0xJESSIE_]

based on a true story

[Jeff @0xPortola]

We are looking for our initial set of founding contributors for @init_ai. pls fill out the form below if you are interested in getting involved! 🤖

[patty @koinsensus]

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[red @RedactedRed_]

@BirthdayBoi congrats guys!!! 🫶

[BirthdayBoi @BirthdayBoi]

| Glyph Universe explained by Jessie https://t.co/eJvfCxSeUe

[red @RedactedRed_]

@MyNameIsJeff @CryptoBlockDan @solana let’s goo gluck guys!!

[red @RedactedRed_]

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[red @RedactedRed_]

@cryptoxlr @loshmi @gghostbo4 patri great cdm

[red @RedactedRed_]

@raidenkrn i cannot get the ball off a messi that dribbles in circles. im cooked

[red @RedactedRed_]

@raidenkrn this an insane meta team sir, what div are you in?

[red @RedactedRed_]

@PolyStationApp arsenal united w parlay

[red @RedactedRed_]

@mitchellsniffle putting mitchell on notifs

[red @RedactedRed_]

you ask, we ship

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[chaebolize @chaebolize]

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