The team stated that they are working with security organizations, validators, and cryptocurrency exchanges to determine the impact of the incident. While verified information will be shared through official channels, users were warned against fake links and messages that may circulate during this process.
Upbit Issues Transfer Halt and Investor Warning
South Korean cryptocurrency exchange Upbit also took precautions for INIT following the development. The exchange announced that it had temporarily suspended deposit and withdrawal services, citing indications of a security incident on the Initia network.
Upbit has linked the reopening of transfers to verifying the security of deposit and withdrawal transactions. While a specific restart time has not been announced, it was stated that updates would be provided via the same announcement.
The exchange also issued a separate statement warning INIT investors of potential increased price volatility. This warning does not mean a delisting or suspension of trading; the announced service restrictions cover deposits and withdrawals.
*This is not investment advice.
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