Initia halts its L1 and rollups after a MoveVM mint bug lets an attacker bridge out about $2.7M

Teaser from the source

On Oct 23 2026 an attacker abused a previously unknown MoveVM / Cosmos SDK bug on Initia to mint about 2 million unbacked AUSD and bridge roughly 1.4M AUSD, 105 ETH and 1.08M USDC to Ethereum, about $2.65M to $2.73M. Initia halted the L1 and its rollups at 15:41:30 UTC. Native INIT was not affected. No fix, post-mortem or restart date had been published at the time.

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