INIT deposits and withdrawals suspended, Upbit and Bithumb issue warnings on Initia

Odaily Report: South Korean crypto exchanges Upbit and Bithumb have suspended deposits and withdrawals for Initia (INIT) and issued an investment warning for INIT. Upbit announced that on October 24 it confirmed a suspected security issue on the Initia chain, warning that INIT price volatility may intensify and reminding holders to trade with caution. Previously, Initia officially announced the suspension of L1 and its Rollup operations due to a security incident; security researcher Spreek stated that attackers exploited a vulnerability to mint additional tokens and have cashed out approximately $2.6 million.