Initia L1 and Rollups Plan to Resume November 2 Without Reverting Transaction History

Initia plans to resume its Layer 1 network and rollups on November 2, without rolling back transaction history. According to Foresight News, the network upgrade will deploy an independently audited MoveVM patch to isolate the attacker’s remaining fabricated balances and add security measures. Backing assets for AUSD0, USDC.n, and WETH will be restored before the restart, and users will not need to take action. Initia’s decentralized exchange will pause briefly after relaunch while designated accounts rebalance pool prices to market levels; proceeds from the rebalancing will go to affected liquidity providers. Bridges and exchanges will resume transfers after the network has been monitored for a period of time. Withdrawals of LayerZero OFT versions of WETH and AUSD0 will be subject to a 24-hour delay. Initia was attacked on October 23. The attacker exploited a MoveVM script-cache vulnerability to fabricate balances and transfer approximately $2.7 million in assets.