Mint Exploit Reports Prompt Initia to Halt Its L1 and Rollups

Initia halted operations on its layer-1 network and rollups after reports of a mint exploit. An estimated $2.6 million had been cashed out. The shutdown concerned Initia's infrastructure; the dollar figure concerns estimated cash-outs.

Stablecoin swaps were followed by a transfer of 1,135.5 Ether (ETH). The 1,135.5 ETH figure is a transfer amount and is distinct from the $2.6 million estimate.

Agora said a third-party product using AUSD was affected and froze an AUSD account linked to the incident. Its description identifies the affected product as third-party, while the freeze is an account-level response. Initia's halt and Agora's freeze were separate actions: one stopped Initia's L1 and rollups, and the other involved an AUSD account. The reported developments include the network halt, an estimated cash-out, Ethereum transaction activity and an AUSD account freeze.