Initia Halts L1 and Rollups After Reported Mint Exploit

A full halt of an L1 and its rollups is a blunt but telling response: it prioritizes containment over liveness, and it puts every application built on Initia in the same paused state regardless of exposure. The on-chain trail — stablecoin swaps and a later ETH transfer — suggests the attacker moved quickly to convert and relocate funds, which is what typically complicates recovery. For teams building on Initia, the immediate question is not the loss figure but how the chain restarts and whether rollup operators get clarity on state and user balances. Whether the exploit is traced to a specific mint pathway, and how the restart is handled, is the open question.