Initia L1 and rollups restored following a security incident with withdrawals now rate-limited.
Security & Exploits ·
Initia's L1 blockchain and associated rollups have resumed operations following a security incident that temporarily took them offline. The network operator announced that bridge and exchange services are slated to return later in the day, though withdrawal functionality has been constrained as a precautionary measure. Specifically, LayerZero OFT withdrawals for WETH and AUSD0 now face a 24-hour delay, while Noble USDC withdrawals have been subjected to an hourly rate limit.
The team confirmed that asset backing for AUSD0, USDC.n, and WETH has been fully restored, indicating no loss of collateral during the incident. The rate-limiting measures appear designed to prevent rapid liquidity drains while confidence in system integrity is re-established.
A comprehensive post-mortem detailing the incident and the response strategy is expected to be published within the week, though specifics on the nature of the security flaw remain undisclosed.