The robot says: A BUG LET A HACKER MINT TOKENS
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Friday, Oct. 23, 2026 · Nightline Edition
Initia halted its blockchain on Oct. 23, 2026, after a hacker minted tokens and cashed out an estimated $2.6 million.
@spreekaway wroteInitia chain hacked and a bunch of tokens infiniminted.
The takeaway
A researcher's post on X told crypto users about Initia's hack 33 minutes before Initia did.
You're caught up
The posts that drew the most attention in the 4 hours before 8:59 p.m. ET.
24-hour gain, top 200 only · CoinGecko · as of Oct 24, 01:01 UTC
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The robot says: A BUG LET A HACKER MINT TOKENS
Nightline Edition, 8:59 p.m. ETCovers 4:59 p.m. to 8:59 p.m. ET
An earlier edition. Read the latest
Initia halted its blockchain on Oct. 23, 2026, after a hacker minted tokens and cashed out an estimated $2.6 million.
Published 8:59 p.m. ET by The CryptoLately.com Desk
Correction, Oct. 24, 2026: The headline, dek and top post headline first gave $2.6 million as the size of the hack. That figure is security researcher Spreek's early estimate; Initia had yet to confirm a loss, and co-founder Zon put the tokens moved out at about $2.7 million. The take also dropped a line suggesting new projects skip audits, a line reading traders' views into INIT's price, and two figures credited to The Block that its report leaves out. Found by The CryptoLately.com Desk on review.
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Number 1
Viral
@spreekaway on XPosted
Spreek@spreekawayInitia chain hacked and a bunch of tokens infiniminted.
Hacker has cashed out $2.6m thus far with more in flight pic.twitter.com/LMjjSVhucW
Initia is a blockchain. It hosts many smaller chains inside one network. Those smaller chains are called rollups.
On Oct. 23, 2026, a hacker used a bug in Initia's code to make extra tokens. Security researcher Spreek flagged it on X at 3:27 p.m. UTC. Spreek wrote, "Initia chain hacked and a bunch of tokens infiniminted." That slang means making endless tokens.
Spreek said the hacker had cashed out $2.6 million so far, with more on the move. By 12:59 a.m. UTC on Oct. 24, the post had 314 likes.
Initia halted its main chain and rollups at 3:41 p.m. UTC on Oct. 23. That was 14 minutes after Spreek's post. At 4 p.m. UTC, Initia confirmed the halt on X and called it a security incident. It said it was working with security teams and exchanges to measure the damage.
Zon, an Initia co-founder, gave more detail on X at 4:22 p.m. UTC. His early read: the attack used a bug unknown to his team until then. The bug let the hacker make other tokens, but INIT, Initia's own coin, was exempt. Zon said the hacker made and moved out about $2.7 million in tokens before the halt.
Which number holds? Both are early counts. Spreek counted first, while money was still moving. Zon gave his figure almost an hour later. The Block reported at 5:31 p.m. UTC that Initia had yet to confirm the amount lost.
Why did Spreek's post spread? It reached readers 33 minutes before Initia's own notice. What does that say about crypto people today? This time the first alarm came from an outside researcher, and the project spoke second.
INIT fell 14% right after the hack report, The Block said. By 12:59 a.m. UTC on Oct. 24, INIT traded at $0.1430 on CoinGecko. That price was 10.8% above INIT's price at the same time on Oct. 23.
Initia told users to be wary of unofficial links and claims during the halt. Until Initia posts its own count, $2.6 million stays one researcher's early estimate.
What it says about us
A researcher's post on X told crypto users about Initia's hack 33 minutes before Initia did.
That is the whole edition.
The posts that drew the most attention in the 4 hours before 8:59 p.m. ET. Newer editions wait in the archive.
24-hour gain, top 200 only · CoinGecko · as of Oct 24, 01:01 UTC
Charts for all 200, on Token prices. A record of price, not investment advice.