Initia Audits Proposed Fix for Oct. 23 Security Vulnerability

Initia has drafted a fix for a vulnerability discovered Oct. 23 and is auditing it with security partners, advancing plans to restore support for affected assets and restart its blockchain and rollups.

The Oct. 23 exploit prompted Initia to halt its layer 1 network and rollups. About $2.7 million in assets moved to Ethereum before the pause and were later exchanged for 1,135.52 Ether (ETH). Initia had previously expected to complete a fix and security audit within days.

The proposed repair is now under review. Once the audit is complete, Initia plans to publish a detailed plan explaining how it will restore support for affected assets and restart the layer 1 network and rollups in an orderly manner. The update does not say that the audit's completion will itself trigger a restart.

Initia expects the audit and recovery process to be completed within the next few days. That remains a forecast, and the Oct. 27 update gives no specific restart date. The project's next step is to release the recovery plan after the audit.