IoTeX: Promises to fully compensate all affected users using treasury funds; the mainnet has resumed operation.

2026-02-25 05:30:44

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Odaily Planet Daily reports that the IoTeX team has issued an update regarding the cross-chain bridge security incident that occurred on February 21. The IoTeX mainnet resumed full operation on February 24 at 6:06 AM. The Mainnet v2.3.4 upgrade permanently banned 29 attacker addresses and froze approximately 45 million IOTX tokens.

On-chain analysis shows that the attacker maliciously minted 410 million CIOTX tokens, of which 99.5% have been locked or frozen, with only 0.4% converted to cash via DEX. The total loss of assets in the cross-chain bridge reserves is about $4.4 million. The attacker exchanged USDC, USDT, and other assets for 2,183 ETH, which was then converted through THORChain into 66.78 BTC. Currently, the BTC assets are distributed across four monitored Bitcoin addresses. The IoTeX Foundation has pledged to use treasury funds to fully compensate all affected users, with specific compensation plans to be announced soon.

IOTX27.72%

ETH5.21%

BTC4.01%

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