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Injective halts block production for nearly four hours after a $4.9M exploit
The network said an accelerated upgrade contained the incident, while researchers disputed that characterization and said the fix patched core logic that disabled binary options settlement on mainnet.
Injective, a layer-1 blockchain network, produced no new blocks for nearly four hours as it responded to an exploit that researchers traced into core modules. The incident began with the chain showing block production at 16:09:59 UTC on Aug. 31, before block production stopped for roughly four hours, according to on-chain data described by CryptoSlate.
Injective said on Sept. 1 that the blockchain was upgraded, not halted, and that its consensus, native INJ, and staked assets were never compromised. The network described the attack as impacting a small number of ecosystem applications that use binary-options markets, and said the accelerated upgrade took longer than expected as validators and infrastructure moved to an emergency release.
A researcher cited by CryptoSlate, Earthling Paddy, challenged Injective’s framing. Paddy said the exploit was contained by the network and that staked funds were kept safe, but argued the vulnerable logic was within protocol modules rather than only application code, pointing to an emergency v1.20.3-safeharbor.1 release that added an insurance-fund denomination check and disabled binary-options settlement on mainnet.
CryptoSlate also reported that researchers estimated about $4.9 million was bridged to Ethereum during the exploit, and that roughly that amount remained in an attacker-linked wallet. The outlet said the full loss allocation remains unclear, and that some validators were temporarily jailed while exchanges including Coinbase and Coins.ph temporarily restricted transfers, with INJ trading around $4.80 as of press time, down about 3% over 24 hours.
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