Initia Foundation Approves Funding to Cover iUSD Collateral Shortfall

According to TechFlow, on October 28, Initia officially stated that, with the support of the Initia Foundation, the 1:1 asset backing for assets affected by the security incident on October 23 will be fully restored when the chain resumes operation. The Initia Foundation has approved funding to cover reserve shortfalls for Noble USDC, WETH, and AUSD0 used as iUSD collateral, involving up to 1.08 million USDC, 105 ETH, and 1.4 million AUSD0, respectively. The exact amounts are still subject to verification and final transfer approval.

Source: TechFlow