Initia has halted its Layer 1 blockchain and all associated rollups, suspending transfers and trading following a security incident. The emergency response was triggered after blockchain security firm Spreek reported a mint exploit on the network. Spreek estimated that approximately $2.6 million worth of assets were cashed out by the attacker. Initia has not yet confirmed the total loss amount or disclosed the specific mechanism used to exploit the minting process. The full shutdown of the ecosystem indicates the severity of the vulnerability and the team's effort to contain further damage.