Particle.news
Download on the App Store
4 ARTICLES
·
2h ago

IoTeX Says Hack Contained, Puts Loss at $2 Million as Chain Paused for Upgrades

IoTeX targets a 24–48 hour restart following a security pause.

Iotex contains hack, dismisses $4.3m loss concerns
IoTeX confirms suspicious activity in token safe, says situation 'under control'
Iotex confirms ‘suspicious activity’ involving token safe, says losses contained

Overview

  • The project reported an exploit affecting a token safe and said current data shows about $2 million in impact across USDC, USDT, IOTX, and WBTC.
  • On-chain investigator Specter suggested a private key compromise and cited higher loss estimates, including $4.3 million and an earlier $8.8 million figure tied to additional drains.
  • Investigators said stolen assets were swapped for ETH, with at least 45 ETH bridged to Bitcoin, and 111 million CIOTEX tokens were minted as part of the operation.
  • IoTeX said it has contained the incident, paused the chain for security upgrades, and plans to resume deposits and normal operations within 24–48 hours.
  • The team stated it is working with major exchanges, security partners, and law enforcement to trace and freeze funds, while IOTX fell nearly 10% after the activity was flagged.