Initia Halts Blockchain After $615K Leaves Bridged Asset Escrows

Initia halted its layer-1 blockchain after roughly $615,000 left escrow accounts holding bridged assets. Most of the assets moved from those escrow accounts stayed on the halted network, so their fate depends on how the recovery process plays out. Traders holding bridged assets on Initia face uncertainty over whether funds are recoverable, and the incident adds to concerns about bridge and escrow security across L1 chains.