Lakey Peterson is currently ranked No. 2 in the world
The victim was still conscious when flown to Royal Perth Hospital by air ambulance.
Two men were attacked by sharks in separate incidents at Gracetown, Western Australia near the event area on Monday and in a statement on Wednesday, the World Surf League says the safety of surfers is a priority and they have therefore chose to cancel the rest of the competition.
A 37-year-old man was surfing at Cobblestones Beach at Gracetown, about 270km south of Perth, when he was bitten on both legs at about 1am Irish time by a shark.
"If anyone is familiar with the Mick Fanning moment.it was very similar to that, where a shark pretty much popped up and ended up knocking a surfer off his board", Jovic told Australian Broadcasting Corp. radio.
"They got him to shore and started working on him to stem the bleeding".
"It swam under a couple of guys and came around and bit a third person", he said.
"It was a large shark and from the way it was behaving, it would have been a white pointer".
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Travaglini was reported in stable condition and thanked all the other surfers who helped him on the beach.
The Margaret River Pro alone injected $5.5 million into the region's economy in 2017, while a significant amount of the state's revenue trickles in from water-based tourism every year.
Heats had today returned to Main Break in Prevelly but the competition was suspended after the attack.
State Opposition Leader Mike Nahan has said the attacks emphasise the need to do more in the way of preventative measures - including using SMART drumlines that detect the presence of sharks before they become a real threat.
"We are placing the Margaret River Pro on hold while we work with local authorities on next steps".
A hard decision, but surfer and staff safety are paramount to the @WSL. "We have mitigation protocols in place and will be enhancing those when competition resumes".
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