Initia says MoveVM cache bug let attacker mint $2.7M in unbacked tokens

The key detail is that this was a state-forging bug in the VM layer, not a token contract flaw — a reminder that execution-environment code carries risk that asset-level audits may not cover. The claim that total supply and INIT were untouched narrows the damage to accounting and backing questions rather than dilution, but unbacked credits still raise the issue of who absorbs the loss. Whether the affected assets were fully collateralized before the exploit, and how the caching flaw is patched across other MoveVM deployments, is the open question worth watching.