Hacker mints tokens on Initia Chain, cashes out about $2.6 million

What happened

23, 2026 Somebody found the money printer on Initia Chain. Spreek flagged the activity publicly, and the minting operations tied to the exploit were confirmed through a transaction visible on the official Initia explorer.

The project raised about $24 million from investors, a list that contains Binance Labs and Delphi Digital.

The exploit (a piece of code that turns a flaw into a way in) highlights vulnerabilities in blockchain security, potentially undermining trust and impacting future investments in Initia Chain. On October 23, 2026, an unauthorized actor carried out what blockchain security researcher Spreek described as an “infinimint” exploit on Initia, the modular layer one blockchain built around interwoven rollups.

What happened on Initia An infinimint exploit is what it sounds like. The attacker gained the ability to mint tokens with no cap, then swapped those tokens for assets that held real value.

The damage comes when they get swapped into something real before markets catch on. The attacker had cashed out approximately $2.6 million by the time of reporting, with additional assets still in transit.

Initia had not issued an official response or detailed breakdown of the incident as of the initial reports. It has also gone through multiple security audits.