[Initia Suffers $2.7 Million Minting and Bridge Transfer Due to MoveVM Vulnerability, Chain Shutdown with No Restart Date] According to Jinse Finance, at 11:41 AM ET on October 23, Initia Layer 1 and its rollups were shut down due to a "security incident," with no restart date set as of 5:52 PM that day. Co-founder Zon initially attributed the issue to a "Day 0" vulnerability in Initia's CosmosSDK-based MoveVM, which allowed attackers to mint tokens on Initia L1 (without affecting native INIT) and, before the chain shutdown, mint and bridged approximately $2.7 million worth of AUSD, ETH, and USDC. D2 Finance tracked the event, stating that at 10:59 AM, a single minting of 2 million AUSD was transferred via LayerZero's OFT adapter to an Ethereum lockbox contract for redemption; the OFT adapter could not verify whether the burned tokens had been endorsed. The attacker withdrew 1.4 million AUSD (71% of the adapter) and 105 ETH (96%), and another 1.08 million USDC was newly minted via Circle CCTP, totaling approximately $2.65 million, which was transferred to Ethereum within 7 minutes and 21 seconds. Agora stated that AUSD was not deployed on Initia and was fully endorsed. The attacking address was frozen after transferring 1135.5 ETH (approximately 2.7 million) via 1inch.