INIT Jumps 74.22% After Rollup Key Exploit Drains $605K USDC

Initia INIT jumped 74.22% in 24 hours to 0.22 USDT after briefly touching 0.244 USDT, even as a security incident hit the network. An attacker used a compromised Rollup infrastructure key to forge IBC transfers, draining about 605,000 USDC via Noble plus $10,000 in other tokens. The Initia L1 network paused block production at 14.18 on November 10 after coordination with validators.