Initia Halts Network After $2.7M Exploit Initia has paused its Layer 1 network and rollups after a security flaw reportedly allowed an attacker to mint tokens without authorisation. Co-founder Ezaan Mangalji said preliminary findings point to a previously unknown bug in its MoveVM implementation on Cosmos SDK. The attacker reportedly bridged out around $2.7 million in AUSD, ETH and USDC before the network was halted. Initia is investigating with security teams, validators and exchanges. The team says the bug does not affect native INIT tokens, while the full extent of the losses remains unconfirmed.