Initia Halts Layer 1 After $615,000 in Tokens Exit Through Noble

Initia paused its Layer 1 blockchain after finding unauthorized transfers from escrow accounts, with an initial review indicating about $615,000 in assets had left through Noble before the halt.

The affected escrow accounts held assets bridged across multiple rollups. Initia’s preliminary accounting put the transfers at about $605,000 in USDC and $10,000 in other tokens, all routed through Noble before validators halted the network.

Most of the assets moved from the escrow accounts remained on Initia’s paused Layer 1. The halt began at 1:18 a.m. ET Nov. 10 (6:18 UTC), after coordination with validators. Initia described the pause as a protective measure.

Initia’s initial investigation found that an attacker used a compromised key linked to rollup infrastructure to forge IBC transfers. Initia is working with its security team, validators and exchanges to establish the incident’s full scope. It plans to share further details and urged users to avoid unofficial links and messages.