Initia, a layer 1 built to connect a network of app-specific rollups, is reportedly dealing with an exploit on its chain. An attacker infinite-minted several tokens and began selling them, with more funds still in flight.

The attacker has cashed out about $2.6M so far.

The root cause and the full list of affected tokens have not been confirmed yet. Infinite-mint bugs dilute holders of the minted assets and can drain liquidity pools that price them, so the final loss could grow while the stolen funds keep moving.