Initia stopped its layer one chain and its rollups at 3:41:30 p.m. UTC on Friday, October 23, after an attacker minted tokens that should not have existed and moved roughly $2.7 million of AUSD, ETH and USDC off the network, according to Bitcoin.com News. Co-founder Ezaan Mangalji said that "to the best of our knowledge so far" the cause was a "Day 0 bug" in Initia's MoveVM running on the Cosmos SDK, which allowed extra tokens to be created on the base chain without touching native INIT. The team says it is working with security firms, validators and exchanges to measure the full damage. Agora, which issues AUSD, said its own contracts were not compromised and it has none on Initia, and that it will freeze AUSD held by attacker addresses on chains where its contracts run. South Korea's Upbit suspended INIT deposits and withdrawals. The token dropped on the news and then recovered to sit 12.5% higher over 24 hours, up 65.8% since September 23. At 7:45 p.m. the chain was still stopped at block height 23,365,925, with no restart date and no confirmed total. Initia is built to help separate networks work together, and in this case a flaw at the base layer reached other networks through the same bridges that design depends on.