Initia Halts Network After Security Incident and Token Minting
Bitget announces the suspension of deposit and withdrawal services for the INIT - Initia network due to scheduled wallet maintenance.
Update (Oct 23, 17:42 UTC): According to The Defiant, Agora reported that the recent Initia exploit impacted a third-party product that utilized AUSD.
Update (Oct 23, 17:12 UTC): Initia has halted its network following a security incident involving unauthorized token minting and an onchain transfer of $2.7 million in ether.
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Crypto exchange Bitget has announced the temporary suspension of deposit and withdrawal functions for the INIT - Initia network. According to Bitget_Announcements, the service interruption begins on October 23, 2026, at 23:46 UTC+8.
Maintenance Details
The platform stated that the network services are being paused strictly due to wallet maintenance. Users attempting to transfer tokens across the affected network will experience temporary downtime.
Resumption Timeline
The exchange did not provide a specific end time for the maintenance work. Bitget stated that the resumption time for deposits and withdrawals will be announced separately through official channels once the work is completed.
Key facts
- Affected network: INIT - Initia
- Suspension start time: October 23, 2026, 23:46 UTC+8
- Reason: Wallet maintenance
- Resumption time: To be announced separately
Source: bitget.com
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