Initia Network Services Fully Restored
Initia has officially announced that its Layer 1 blockchain and associated Rollup networks are now back online and operating normally.
Cross-Chain and Transfer Functions to Resume Shortly
The network's core cross-chain bridge services and decentralized exchanges are expected to resume asset transfer functionalities later today. The team has adopted a phased restoration approach to ensure system stability.
Temporary Risk Controls on Select Withdrawals
As a precautionary security measure, the team has implemented temporary controls on withdrawals for certain assets:
- WETH and AUSD0 via LayerZero OFT standard: A 24-hour waiting period will be applied to withdrawals.
- USDC from Noble: Withdrawals will be subject to an hourly quota limit.
The team clarified that these are temporary preventive measures and will be gradually lifted once system stability is fully confirmed.
Asset Reserves Fully Replenished
Initia confirmed that the core asset reserves related to the incident, including AUSD0, USDC.n, and WETH, have been fully restored, ensuring the safety of user funds.
A comprehensive technical analysis and detailed post-incident report regarding the event is scheduled for official release later this week, providing the community with full transparency into the cause and resolution process.