Initia exploiter shifts over $2.7 million in ETH seconds after network halt

On Friday, an address tied to the Initia exploit sent about 1,135 ETH, worth more than $2.7 million, to a second Ethereum wallet. Initia halted both its Layer 1 and all its rollups at 15:41:30 UTC, five seconds before the transfer got settled. Spreek, the onchain analyst, raised the alarm at 15:27 UTC. “Initia chain hacked and a bunch of tokens infiniminted. Hacker has cashed out $2.6m thus far with more in flight,” he wrote . Agora froze the exploit address after 1.4 million AUSD left Prior to the massive transfer, the same address exchanged 1.4 million AUSD and about 1 million USDC into ETH via 1inch. Both swaps happened between 15:03 and 15:05 UTC, more than 20 minutes before the first public alert.

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