After Initia network pauses, attacker transfers over $2.7 million in ETH within seconds

AI-assisted source summary · not independently verified. Content standards

An address linked to the Initia exploit transferred about 1,135 ETH (worth over $2.7 million) to another Ethereum wallet seconds before the network was paused. Initia suspended its L1 and all Rollups following a security incident; the attacker had previously swapped 1.4 million AUSD and about 1 million USDC for ETH, after which Agora froze the attacker’s Ethereum address. Upbit suspended INIT deposits and withdrawals, but trading continued.