Initia said its Layer 1 network and rollups are scheduled to resume operations on Nov. 2 after a chain upgrade that will deploy an independently audited MoveVM patch. The team said the upgrade will isolate the attacker’s remaining forged balances, add extra security measures, and leave transaction history untouched, with no rollback planned.
Before the restart, backing assets for AUSD0, USDC.n, and WETH will be fully restored, and users do not need to take any action, according to the project. Initia also said its DEX will briefly pause after coming back online so a designated account can rebalance pool prices to market levels. Any gains generated during that rebalancing process will be returned to affected liquidity providers.
Transfers through bridges and exchanges will resume only after the network has been monitored for a period of time. Withdrawals for LayerZero OFT versions of WETH and AUSD0 will be set to 24 hours. Foresight News had previously reported that Initia was attacked on Oct. 23, when an attacker exploited a MoveVM script cache vulnerability to forge balances and move roughly $2.7 million in assets.
Initia said its L1 network and rollups are scheduled to resume operations on Nov. 2. The team said the chain upgrade will deploy an independently audited MoveVM patch, isolate the attacker’s remaining forged balances, and add extra security measures. It also said transaction history will not be rolled back.
Restart plan and asset restoration
According to Initia, the backing assets for AUSD0, USDC.n, and WETH will be fully restored before the restart. Users do not need to take any action.
DEX pause, bridge transfers, and withdrawal delay
Initia said its DEX will briefly pause after the restart. A designated account will rebalance pool prices back to market levels, and any gains generated from that process will be returned to affected liquidity providers.
Bridge and exchange transfers will resume after the network has been monitored for a period of time. Withdrawals for LayerZero OFT versions of WETH and AUSD0 will be set to 24 hours.
Earlier exploit
Foresight News previously reported that Initia was attacked on Oct. 23. The attacker exploited a MoveVM script cache vulnerability to forge balances and moved about $2.7 million in assets.
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