Hacking News
Initia Confirms Second Exploit, $3.27M Stolen
Layer-1 blockchain network Initia confirmed a security exploit that resulted in the theft of about $3.27 million in crypto assets. An attacker compromised the platform's cloud infrastructure, accessed environment variables, and validated fraudulent Inter-Blockchain Communication (IBC) withdrawals from five rollups. About $2.16 million of the stolen assets remain frozen on the halted network. The attacker also sold assets on Initia's decentralized exchange and withdrew 13,400 TIA, 8,000 USDC.inj, and 597,000 Noble USDC.