IoTeX Security Incident Update: Asset Security, 99.5% of Anomalous Minting Frozen, Global Tracking Initiated

BlockBeats News, February 25 — According to official sources, the IoTeX network has completed a version upgrade and fully resumed operation. After verification by the team, 99.5% of the abnormal tokens in the ioTube cross-chain bridge incident have been intercepted or permanently frozen, with actual losses estimated at approximately $4.4 million.

The mainnet assets are secure, and the IoTeX Foundation has committed to fully compensate 100% of affected users. The specific compensation plan will be announced within 24 hours. The authorities have locked the hacker’s wallet containing 66.78 BTC and are working with the FBI and law enforcement agencies in multiple countries to conduct 24-hour global monitoring to prevent money laundering.

The 48-hour bounty window is about to close. IoTeX has initiated legal, technical, and criminal investigations, as well as evidence preservation for all affected assets, collaborating globally for traceability. The new version has permanently banned 29 malicious addresses and promoted IIP-55, upgrading ioTube to a multi-party verification governance structure to eliminate single points of failure.

Currently, IOTX trading and mainnet operations are normal. The team is working with over 20 exchanges and Korea’s DAXA to restore deposits and withdrawals.