The Initia blockchain was halted on Tuesday morning after a new infrastructure compromise caused losses of at least $615,000. This was the second security incident in less than three weeks, following a script-caching bug that enabled the theft of $2.7 million in WETH, iUSD and USDC. Combined losses of more than $3.3 million now exceed Initia’s remaining total value locked, which has fallen by over 90% from its peak shortly after launch in May. Most assets removed from escrow accounts remain on the network and may be recoverable through coordinated action by validators, while some users called for the chain’s permanent shutdown.
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