Protocols & Policy · Breaking
Initia says it halted its main chain and every connected network at 11:41 a.m. ET. Upbit has paused INIT deposits and withdrawals, and Initia has not said what was lost.
Initia, a crypto network, says it has halted its main blockchain and all the rollups built on it after a security incident, freezing activity for everyone who uses those networks [1]. Rollups are separate chains that run on top of a main chain and rely on it to settle.
"As of Oct 23, 2026, 3:41:30 PM UTC, the Initia L1 and Rollups have been halted due to a security incident," Initia said in a statement on its official X account at 12:00 p.m. ET [1]. That is 11:41:30 a.m. ET.
Halting a blockchain means its validators, the computers that confirm transactions, stop producing new blocks. While the chain is stopped, nobody can send tokens, trade on apps built on it or move assets in or out through it. Holders, app builders and exchanges that support the token are all affected until it restarts.
Le Coin checked Initia's public data feed at 12:15 p.m. ET. The latest block was number 23365925, stamped 11:41:30 a.m. ET, matching the time Initia gave [2].
Initia said its team is "actively investigating" and working with "security teams, validators, and exchanges" to establish "the full scope of any impact" [1]. It has not said how the incident happened, what was taken or when the chain will restart. Loss estimates circulating online come from outside researchers and have not been confirmed by Initia.
Upbit, a South Korean exchange, suspended deposits and withdrawals of INIT, Initia's token, at 11:57:53 a.m. ET. It cited signs of a security incident (Le Coin translation) and said the pause is to protect users [3]. The notice covers deposits and withdrawals only. Upbit said it will announce through the same notice when service resumes, once it confirms deposits and withdrawals are stable [3].
Holding the Corner.
Not financial advice.