Monitoring data cited by Odaily shows the Initia security incident may be tied to a day-0 vulnerability in MoveVM, which runs on Initia’s Cosmos SDK-based stack. Based on the information currently available, the flaw allowed an attacker to mint extra tokens on Initia L1, though the network’s native token, INIT, was not affected. Before the blockchain was halted, the attacker had already minted assets and moved them across chains, transferring out roughly $2.7 million worth of AUSD, ETH, and USDC. The team is still investigating the incident, and the full impact as well as additional technical details have not yet been confirmed. The report attributes the monitoring to Zon and notes that the current assessment is preliminary.
According to monitoring cited by Odaily, the Initia security incident may have stemmed from a day-0 vulnerability in MoveVM on Initia’s Cosmos SDK-based architecture.
The flaw, based on the information available so far, allowed an attacker to mint additional tokens on Initia L1 without affecting INIT, the network’s native token. Before the blockchain was paused, the attacker had already minted assets and bridged them out, transferring about $2.7 million in AUSD, ETH, and USDC.
The team is still investigating. The broader impact and more details have yet to be confirmed.
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