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Initia Chain Exploit Results in $2.6 Million Theft

Initia Chain Exploit Results in $2.6 Million Theft

First seen 24 Oct 2026, 02:13 UTC • •
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ThreatCluster AI
ThreatCluster •October 24, 2026 at 03:13 UTC
  • •An attacker exploited Initia Chain's minting function, draining over $2.6 million.
  • •The exploit involved unauthorized minting of tokens, specifically 2 million AUSD.
  • •Initia halted its blockchain operations to investigate the incident and mitigate further losses.

On October 23, 2026, an unauthorized actor exploited a vulnerability on Initia Chain, allowing them to mint tokens without authorization. This 'infinimint' exploit enabled the attacker to create approximately 2 million AUSD tokens, draining over $2.6 million in crypto assets. The attack was first reported by blockchain security researcher Spreek, who noted that the attacker converted these tokens into other assets, including 1.4 million AUSD, 105 Ether (ETH), and 1.08 million USDC, using cross-chain transfers to Ethereum. Initia halted its blockchain operations at 3:41 p.m. UTC on the same day to assess the damage and work with security researchers and exchanges. The extent of the impact on users and the timeline for restoring network operations remain unclear as Initia has not confirmed the total losses or the cause of the exploit.

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Timeline

2026-10-23
Exploit reported by Spreek
Blockchain security researcher Spreek flagged an exploit allowing unauthorized token minting on Initia Chain.
Cryptobriefing
2026-10-23
Initia halts blockchain operations
Initia suspended its layer-1 blockchain and rollups at 3:41 p.m. UTC to assess the security incident.
Tradingview
2026-10-23
Details of the exploit emerge
D2 Finance reported that the attacker minted unbacked AUSD tokens and withdrew significant assets to Ethereum.
Cointelegraph

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Common questions

What specific tokens were minted in the exploit?
The attacker minted approximately 2 million AUSD tokens without sufficient backing.
What actions has Initia taken in response to the exploit?
Initia halted its blockchain operations and is working with security researchers to assess the incident.
Is there any information on the timeline for restoring operations?
The timeline for restoring network operations remains unclear as Initia has not provided updates.