KuCoin suspended deposit and withdrawal services for Initia (INIT) on October 24, 2026, citing essential maintenance The suspension came a day after the Initia blockchain reportedly went offl
KuCoin suspended deposit and withdrawal services for Initia, trading under the ticker INIT, on October 24, 2026, according to the exchange’s own announcement. The notice described the move only as essential maintenance, a standard phrase KuCoin uses across many of its deposit and withdrawal suspensions, without directly naming any underlying cause.
The timing is notable given what happened the day before. Initia, a layer-one blockchain network, reportedly went offline on October 23, 2026 following an apparent security incident in which an attacker was said to have minted unauthorized INIT tokens, a type of exploit that can let someone create tokens without providing legitimate backing or collateral, potentially diluting or devaluing the token’s real supply if left unaddressed. KuCoin’s own announcement does not explicitly reference this incident, leaving the exact relationship between the network’s reported outage and the exchange’s deposit suspension unconfirmed in KuCoin’s own words, even though the two events line up closely in time.
Suspending deposits and withdrawals for a token after a reported minting exploit or network instability is a common defensive step among major exchanges, since continuing to allow deposits during an unresolved incident could let an attacker move improperly created tokens onto an exchange and attempt to sell them before the full scope of a problem is understood or contained. Pausing withdrawals similarly protects the exchange and its other users from processing transactions involving a token whose underlying ledger may be in an uncertain state.
This pattern of an exchange freezing a token’s rails in the immediate aftermath of a reported network-level incident has precedent elsewhere in the industry, where blockchain networks that have suffered minting exploits or validator-level problems have occasionally needed to halt block production entirely while developers investigate and coordinate a fix, with exchanges typically following suit by pausing deposits and withdrawals for the affected token until the network’s operators confirm it is safe to resume normal activity.
KuCoin’s announcement gave no indication of when deposit and withdrawal services for INIT might resume, nor did it specify what conditions would need to be met before the exchange considers it safe to lift the suspension. The announcement, published on KuCoin’s official notice board, advised users to watch for a further update before attempting to deposit or withdraw the token.
This post first appeared in KuCoin Suspends Initia Deposits and Withdrawals a Day After the Network Went Offline
