Initia confirms second security exploit as $3.27 million is stolen
Initia is dealing with a second security breach in less than three weeks after an attacker stole about $3.27 million in crypto assets from the layer-1 blockchain network. The latest incident prompts another network halt and extends scrutiny of the platform's security controls after an earlier October exploit.
Highlights
- Initia suffered a second security breach involving a command injection attack via a compromised Google Cloud Platform key, resulting in $3.27 million stolen on Monday.
- The attacker validated fraudulent Inter-Blockchain Communication withdrawals from five rollups, with about $2.16 million still frozen on Initia's halted network and no INIT tokens affected.
- This incident follows an Oct. 23 exploit where $2.7 million was drained, intensifying operational and reputational risk for Initia amid persistent blockchain infrastructure security challenges.
Cloud breach and fraudulent withdrawals
As reported by Cointelegraph, citing Initia, the attacker gained unauthorized access on Monday through a command injection attack tied to a compromised Google Cloud Platform key. The company said the breach exposed environment variables, giving the attacker access to Initia's GitHub and cloud accounts and allowing them to obtain additional credentials.Initia said the attacker then accessed Anvil, a platform that hosts rollups, and validated fraudulent Inter-Blockchain Communication withdrawals from five rollups. That process released assets held in the network's escrow accounts, and the attacker later sold assets on Initia's decentralized exchange before withdrawing 13,400 TIA, 8,000 USDC.inj and 597,000 Noble USDC.
The blockchain network said about $2.16 million of the stolen assets remain frozen on its halted network. It also said no INIT tokens were withdrawn in the attack.
Recovery efforts and repeat security pressure
Initia halted its layer-1 on Tuesday and said it intends to restore the backing of affected assets. The company added that recovery efforts are ongoing with law enforcement and security partners.The latest exploit follows an Oct. 23 attack in which about $2.7 million was drained after a vulnerability in Initia's MoveVM script cache was exploited. Initia said that earlier flaw allowed malicious code to bypass security checks and create unbacked token balances that were later bridged out of the network.
The second exploit in under three weeks increases operational and reputational pressure on the crypto platform and highlights continuing security risks for blockchain infrastructure, particularly where cloud access, developer credentials and cross-chain asset transfers intersect.
In earlier coverage, we examined cybersecurity startup funding trends as investor appetite stayed strong despite fewer deals.
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