Initia halts blockchain after $615K exploit as INIT price surges over 60%

Initia has halted its layer-1 blockchain for the second time in less than three weeks after attackers used compromised rollup infrastructure keys to carry out unauthorized transfers, while its native INIT token gained more than 60%. Initia halted its layer-1 blockchain at 06:18 UTC on November 10 following unauthorized escrow transfers. Compromised rollup infrastructure keys allegedly enabled attackers to fabricate IBC transfers from affected escrow accounts. Initia reported approximately $615,000 in unauthorized transfers, while CertiK identified roughly $636,000 across 16 transactions. INIT gained 61.31% over 24 hours, with trading volume reaching approximately $84.81 million, CoinGecko reported. The November incident followed an October 23 exploit involving approximately $2.7 million in unauthorized transfers.

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