Initia: what the team confirmed after the October 23 incident
In its October 24 update (08:46 UTC), Initia attributed the attack to a bug in its MoveVM script cache. According to the team, the attacker credited themselves with unbacked balances of WETH (wrapped ETH), iUSD, and USDC.
The reported estimate was around USD 2.7 million transferred via bridges before the pause. This is the estimated amount transferred, not a final audited loss figure. Initia said that no additional native INIT was issued.
In that statement, the mainnet and its rollups were still paused. The patch, audit, and full technical report were pending. The current operational status could not be verified here.
Context: the fact that no additional INIT was issued does not eliminate the risk to other assets or to the availability of funds. It is also wise to be wary of purported recovery forms and unofficial links.
Market snapshot: as of 25/10, 02:58 UTC, Binance spot showed INIT at 0.15941 USDT, up 15.657% over 24 hours. That rebound does not certify that the issue has been fixed: price and operational security are separate matters.
Sources: Initia (24/10) and Binance public data (25/10).
$INIT $ETH $USDC Educational content. Not financial advice.
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