Multiple Rollup cross-chain asset custody accounts on Initia L1 experienced unauthorized transfers, and the mainnet has been urgently suspended.

Initia halted its L1 mainnet on Nov. 10 at 06:18 UTC after unauthorized transfers were detected across multiple Rollup cross-chain asset custody accounts, with validators coordinating the pause to limit further losses. A preliminary investigation suggests an attacker used a compromised Rollup infrastructure key to forge IBC cross-chain transfers, moving roughly 605,000 USDC out of Initia via Noble plus about $10,000 in other tokens, for total outflows of approximately $615,000. Most of the remaining assets moved from custody accounts are still on the paused L1 network. The team is working with security firms, validators and exchanges to assess the scope of the incident and will release more information later.