TechFlow reported on November 10, 2026, at 15:44 (UTC+8), that Initia had described a pause of its L1. What follows is limited to that report.
Initia said that at 06:18 UTC on November 10, after finding unauthorized transfers from multiple Rollup cross-chain asset custody accounts on the L1 mainnet, it coordinated with validators to pause the L1 so that further losses could be limited.
A preliminary investigation, Initia said, indicates that an attacker is suspected of using leaked Rollup infrastructure keys to forge IBC transfers. The report does not name the keys, the Rollups, or who held the credentials. It attributes the unauthorized movement of assets out of those custody accounts to that suspected use of leaked infrastructure keys.
Before the pause, about 605,000 USDC left Initia through Noble, and about $10,000 of other tokens also left. Initia put the combined outflow at about $615,000. It said most of the remaining assets transferred out of the custody accounts were still on the paused L1. The notice distinguishes that on-chain remainder from the tokens already sent out through Noble. It does not say who controls the departed assets, who owes the custody-account balances, or whether users will be repaid. Balances described as still sitting on a paused chain are not the same as legal ownership or a customer claim.
Initia said the team is working with security firms, validators, and exchanges to assess the scope and will publish more information later. It does not name those firms or exchanges. The pause and the approximate outflow figures record where Initia says assets moved. They do not establish an audit, that reserves cover liabilities, or that any customer protection applies.
Original article: TechFlow, November 10, 2026