Initia Confirms Second Exploit in Weeks, $3.27M Taken

Blockchain network Initia has confirmed a second security breach within roughly three weeks, with an attacker making off with about $3.27 million in crypto assets, according to Cointelegraph. Initia told the outlet that roughly $2.16 million of those stolen funds are still frozen on its now-halted network.

Per Initia's account as relayed by Cointelegraph, the intruder got in through compromised cloud credentials and used a decentralized exchange to pull out 13,400 TIA, 8,000 USDC.inj and 597,000 Noble USDC, while no INIT tokens were taken. The network was halted on Tuesday, and Initia said it plans to restore backing for the affected assets, though no timeline was given for resuming normal operations.

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This newest incident comes after an October 23 exploit in which an attacker drained roughly $2.7 million by taking advantage of a flaw in Initia's MoveVM script cache, Cointelegraph reported. Who carried out the latest attack, and whether the $2.16 million still frozen will be returned, have not been confirmed.