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IoTeX plans to initiate a token buyback and strengthen exchange liquidity to address abnormal price fluctuations.
Golden Finance reports that due to a temporary issue with the market maker causing price fluctuations, IoTeX plans to launch a token buyback project and strengthen exchange liquidity. Previously, an incident with the market maker briefly disrupted trading order, causing its token (IOTX) price on the Binance platform to drop to near-zero levels. Currently, IoTeX has announced that it will implement a token buyback plan and establish new liquidity partnerships. In a post published on October 13 on the X platform (formerly Twitter), IoTeX confirmed that the “price crash” event occurring from October 10 to 11, 2025, was related to a failure of a third-party market maker and was not caused by a protocol vulnerability. The network's core services—including the ioPay wallet, ioTube cross-chain bridge, and DePINscan (data scanning tool)—remained operational, and user funds were not affected.