Initia paused its Layer 1 network at 14:18 Beijing time on November 10 after discovering unauthorized transfers from escrow accounts holding assets bridged to multiple rollups. Preliminary investigations indicate the attacker exploited compromised rollup infrastructure keys to forge IBC transfers, extracting approximately $605,000 in USDC and an additional $10,000 in tokens via Noble before the suspension took effect. Most of the remaining assets transferred out of the escrow accounts remain on the now-paused L1 chain. Initia is collaborating with security teams, validators, and exchanges to assess the full scope of the breach and will release further details as the investigation progresses. The team urged users to exercise caution regarding unofficial links and messages related to the incident.