Historical replay · INIT/USD
INIT Hit $0.395, Then Lost 72% During a Chain Halt (Nov 2026)
Initia's INIT token spiked to $0.395 on November 11, 2026, while its blockchain was halted after a $3.27 million exploit, then fell to $0.11046 by the next morning. Replay the squeeze and the collapse.
On November 10, 2026, Initia halted its layer-1 blockchain after an attacker used a compromised cloud key to approve forged cross-chain withdrawals from five rollups. The project put losses at about $3.27 million in bridged tokens such as USDC and TIA, and said no INIT tokens were taken. It was the network's second halt in under three weeks.
The token went up, not down. With the chain stopped, holders could not move INIT on-chain, which left only the supply already on exchanges to trade: it jumped from about $0.21 at midday to $0.33 in the 14:00 UTC hour of November 10, and crypto outlets reported gains of 60% to 80% on the day. Early on November 11 it ran again, from $0.234 at 01:00 UTC to a peak of $0.395 in the 05:00 UTC hour on 83,183 trades.
That same candle reversed and closed at $0.289. From there the selling did not stop: $0.188 at 07:00 UTC, $0.169 by 12:00 UTC and $0.132 by the evening, with every bounce sold. Initia had given no restart date. The low came at $0.11046 in the 03:00 UTC hour of November 12, about 72% below the peak of the day before.
Replay it to see why a halted chain is not a bullish catalyst: a token that cannot be withdrawn or used can be squeezed on thin exchange supply, but once holders realise the network has no restart date, the move unwinds faster than it came.