The attacker exploited a vulnerability in the Initia protocol that allowed for the creation of an unlimited number of new tokens.
According to on-chain analytics firm Spreek, the total damage could increase as fund withdrawals continue.
The project team confirmed the incident and halted operations of the main blockchain and rollups.
HTX exchange has banned access for users from the Russian Federation and requires them to withdraw assets within 7 days as part of EU sanctions.
Benjamin Netanyahu has ordered the creation of a plan to protect Israel's economy from sanctions using blockchain.
China approved its digital development strategy until 2030: a national blockchain network is being created and 6G is being implemented. Cryptocurrency trading is not liberalized.
The Bitcoin Core team has changed its security policy due to the rise in vulnerabilities discovered by neural networks. Fixes are now released faster and more transparently.
HTX has banned Russians from using the platform. Residents of the Russian Federation must withdraw their assets within 7 days under threat of account suspension.
A hacker attacked the Initia blockchain via an infinite token emission vulnerability, draining over $2.6 million. The damage may increase.
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