What happened last night? 🌝 ⚠️ The #Initia network was halted following a security vulnerability. A hacker created counterfeit tokens with a reported value of approximately $7.48 million within seconds. Bridges connecting Initia to other blockchains then transferred about $2.73 million in real assets. The USDC reserve nearly dropped to zero. The network remains offline while damage is assessed. 🔐 Keystone users reported a data leak. The hardware wallet manufacturer had promised to delete certain data, but a breach on its website allegedly exposed it. 🚀 The a16z Crypto fund is rebranding as #a16z Frontier, expanding its scope beyond cryptocurrencies with a $2.2 billion vehicle. 📉 U.S. spot Bitcoin ETFs recorded approximately $636 million in net outflows on Thursday—the largest daily outflow of the month. Ether ETFs also saw outflows. Have a great morning! 🫡