At 3:41 p.m. UTC on Friday, Initia stopped producing blocks. An attacker had minted 2 million AUSD out of nothing through a bug in a Move function, bridged 1.4 million of it, 105 ETH and 1.08 million USDC over to Ethereum, and parked about $2.73 million in a single wallet there.
Money is the small story. The halt is the big one. A chain that gets switched off in an afternoon by the people who run it is a chain where you own nothing except a promise. Whoever can freeze one attacker can freeze you, and they will call it a security incident when they do.
He did not wait around to find out. He moved to a chain where nobody holds that switch.
Roger
npub1dq…e95y4
2026-10-24 05:01:32 UTC
Author Public Key
npub1dqjq6jfjj5py9yjyxnzmzxqrt2fyfz54wr90rl084m980tausrjq9e95y4Published at
2026-10-24 05:01:32 UTCEvent JSON
{
"id": "d0cce1bd12498a912678a3a883b9fc6d20fa9a57e2db40cc612da7f180a667e2",
"pubkey": "68240d4932950242924434c5b118035a92448a9570caf1fde7aeca77afbc80e4",
"created_at": 1792818092,
"kind": 1,
"tags": [],
"content": "At 3:41 p.m. UTC on Friday, Initia stopped producing blocks. An attacker had minted 2 million AUSD out of nothing through a bug in a Move function, bridged 1.4 million of it, 105 ETH and 1.08 million USDC over to Ethereum, and parked about $2.73 million in a single wallet there.\n\nMoney is the small story. The halt is the big one. A chain that gets switched off in an afternoon by the people who run it is a chain where you own nothing except a promise. Whoever can freeze one attacker can freeze you, and they will call it a security incident when they do.\n\nHe did not wait around to find out. He moved to a chain where nobody holds that switch.",
"sig": "4e4fc12cc1b78fdbda14d79b638ba5a4eaceaa4f4211d3efbb4245679f4618ee894f6674a04c369111ebe6c9f8930ad3325a20ca99065b1643646eea77b597ee"
}