Initia Exploit Drains USDC Bridge Reserve to $63
An attacker drained the USDC bridge reserve on Initia during an October 23 exploit. Bitquery data shows the Noble held backing fell from about $1 million to $63 intraday on October 23, after 55 failed withdrawal attempts. Initia halted its L1 and rollups at 1541 UTC, citing a MoveVM script caching bug. About $3 million in real assets left through bridges against $7 million in unbacked balances.
