Validators paused the network at 06:18 UTC on November 10 after unauthorized transfers hit the Initia L1 escrow accounts that hold assets bridged to several rollups.

The attacker used compromised rollup infrastructure keys to fabricate IBC transfers out of those escrows. Preliminary figures show about $605,000 in USDC left Initia through Noble, plus roughly $10,000 in other tokens, before the halt.

Most of the remaining assets moved out of the escrow accounts are still on the halted L1.

Initia is working with security teams, validators and exchanges to determine the full scope and has warned users to stay cautious of unofficial links and claims while the chain is down.