On October 23, 2026, an unauthorized actor executed an infinite-mint exploit on the Initia blockchain. The attacker gained the ability to create tokens without limits and exchanged them for assets of real value.
Security researcher Spreek identified the activity, which was confirmed via the official Initia explorer. At the time of reporting, the attacker had cashed out approximately $2.6 million, with additional assets still in transit.
Initia is a modular layer one blockchain built on the Cosmos SDK that supports MoveVM and EVM environments. The project launched its mainnet in 2025 and has previously raised $24 million from investors, including Binance Labs and Delphi Digital.
The network has a native token, INIT, with a total supply of 1 billion. Initia has not yet provided an official response or a detailed breakdown regarding the nature of the vulnerability.
