On 10 November 2026, PANews reported a post Initia made on X. In that post, as relayed by PANews, Initia said the Initia L1 was paused at 14:18 Beijing time on 10 November 2026, in coordination with validators, as a protective measure. PANews’s item is timestamped 2026-11-10T15:37:07+08:00.
The object of the report is a project statement, not a published set of ledger entries. Initia said it had found unauthorized transfers from custody accounts that hold assets bridged to multiple rollups. Its preliminary investigation, according to the report, is that an attacker used compromised rollup infrastructure keys to forge IBC transfers. IBC is the inter-blockchain communication transfer Initia says was forged. The notice includes no transaction hashes, account addresses, or key identifiers, so those fields cannot be read from this report. The account of compromised keys and forged IBC messages is Initia’s preliminary attribution, not a query result reproduced here.
Initia’s preliminary review covers the period before the pause. It indicates that about $605,000 of USDC and about $10,000 of other tokens left Initia through Noble before the network stopped. PANews’s headline described the USDC figure as a preliminary loss of about $605,000. Initia said most of the remaining assets moved from the custody accounts were still on the paused L1. These amounts are approximate figures from Initia’s review. “Left through Noble” is a reported transfer path, not evidence of a sale or of who controls the receiving side.
PANews also reported that Initia was working with security teams, validators, and exchanges to determine the full scope of the incident and would publish further details later. Users were told to be wary of unofficial links and messages.
Source: PANews, 10 November 2026