Unauthorized transfers have been detected in multiple Rollup cross-chain asset custody accounts on Initia L1, and the mainnet has been emergency paused.

According to TechFlow, on November 10, Initia said that at 06:18 UTC on November 10, after discovering unauthorized transfers in multiple Rollup cross-chain asset custody accounts on the L1 mainnet, the project team coordinated with validators to pause L1 network operations to prevent further losses.

Initial investigations suggest that the attacker may have used leaked Rollup infrastructure keys to forge IBC cross-chain transfers. Before the network was paused, approximately 605,000 USDC were transferred out of Initia via Noble, and another approximately US$10,000 worth of other tokens flowed out, totaling approximately US$615,000.

Initia said that most of the remaining assets transferred out of the custody accounts are still on the paused L1 network. The team is working with security firms, validators, and exchanges to investigate the scope of the incident, and more information will be released later.

Source: TechFlow