Spreek Says Initia Attacker Cashed Out About $2.6 Million

Initia may have suffered a token-minting exploit that let an attacker cash out about $2.6 million, with additional funds still moving, anonymous security analyst Spreek said Oct. 23.

Spreek said a large volume of tokens had been created on the Initia chain without limit. The analyst placed the cashout at about $2.6 million as of the update and said more funds were still being transferred. That makes the $2.6 million a point-in-time cashout amount, not a final accounting while transfers continue.

Other token-minting incidents include UXLINK, where 1 billion tokens were minted, and Humanity, where a private-key leak led to about 300 million H tokens being minted and roughly $34 million cashed out.

In the first half of 2026, 182 public security incidents caused about $956 million in losses, with 12.3% of funds recovered or frozen. That broader total gives context for security losses across the sector but does not estimate Initia's impact.