IoTeX: The actual loss from the ioTube incident is about $4.4 million, and affected users will be fully compensated.
Foresight News reported that IoTeX has released an updated report on the ioTube cross-chain bridge security incident. According to on-chain analysis, the actual economic loss from this incident is approximately $4.4 million. Although the attacker minted 410 million CIOTX, 99.5% of these tokens have been neutralized through methods such as locking on Ethereum and Base networks or freezing via network upgrades. The attacker converted about $4.4 million in reserve assets into 2,183 ETH, which was eventually swapped for 66.78 BTC via THORChain. The IoTeX Foundation has pledged to use its treasury to provide 100% compensation to all affected users, with specific plans to be announced later.
Previously, the IoTeX mainnet fully resumed operations on February 24. The core team blacklisted 29 attacker wallet addresses through the Mainnet v2.3.4 upgrade, permanently freezing approximately 45 million IOTX at the network level. The team is currently coordinating with more than 20 exchanges to restore deposit and withdrawal services, and IOTX trading was not affected by this incident.
In addition, IoTeX will transition to decentralized bridge governance through the IIP-55 proposal, introducing a multi-party verification committee, multi-signature, and time-lock controls, as well as conducting an independent security audit of the ioTube infrastructure to prevent similar incidents caused by private key leaks from happening again.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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