Binance Labs-backed Initia hacked again, $3.3M lost in three weeks

The Initia blockchain was halted Tuesday morning after suffering its second security incident in less than three weeks. An infrastructure key compromise has led to at least $615,000 in losses which, when added to the $2.7 million lost in October, comes to more than the chain’s remaining total value locked (TVL). Read more: BitMart hit by $391K hack amid security staff exodus Claiming the likes of Binance Labs, Delphi Ventures, and HackVC among its backers, Initia L1 acts as a “base layer and central liquidity hub for all Interwoven Rollups.” On Tuesday morning, the Initia X handle announced a chain halt in response to the discovery of “unauthorized transfers from the escrow accounts on the Initia L1 that hold assets bridged to several rollups.” The post blamed “compromised rollup infrastructure…

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