Hacker Prints $2.7M in Crypto as Initia Blockchain Grinds to a Halt

Modular blockchain platform Initia halted its network Friday after the team confirmed “a security incident” that compromised its operations. According to Initia co-founder Ezaan Mangalji, the attacker exploited the breach to mint an estimated $2.7 million worth of tokens. “As of Oct 23, 2026, 3:41:30 PM UTC, the Initia L1 and Rollups have been halted due to a security incident,” the official Initia X account wrote at 12 p.m. Eastern time on Friday.