The Currency analytics
By Pankaj K
IoTeX got hit hard. The blockchain platform's bridge contracts suffered a major exploit on February 21, 2026, with hackers making off with roughly $2 million after compromising a…
Co-founder Raullen Chai broke the news himself, admitting the breach but claiming actual losses are "significantly lower" than what's being reported across crypto Twitter and…
IoTeX focuses on Internet of Things applications, positioning itself as the blockchain for connected devices and smart infrastructure.
The team says they're working fast to patch the vulnerability and prevent future breaches. But that's what every project says after getting hacked.
Cybersecurity firm PeckShield jumped in on February 22, offering to help analyze the breach.
Markets reacted predictably. For more details, see Crypto Search Interest Crashes to 2022.
IoTeX token price dropped to around $0.07 on February 23, reflecting investor anxiety about the platform's security.
Blockchain analyst Sarah Liu weighed in on February 24, suggesting other platforms might reassess their security measures because of IoTeX's problems.
IoTeX announced plans on February 25 to work with external cybersecurity experts, trying to rebuild trust and strengthen their defenses.
Binance temporarily suspended IoTeX deposits and withdrawals on February 26 as a precautionary measure. That's significant because Binance is where most IoTeX trading happens.
Investor group CryptoGuard publicly demanded more transparency on February 27, wanting a detailed timeline of how the breach happened and what IoTeX did immediately after…
The company still hasn't said whether they can recover any of the stolen funds. That's a big question mark hanging over the whole situation.
And the investigation continues with no clear timeline for when we'll get a full report. The crypto community's watching closely because bridge exploits have become increasingly…
The platform's future depends on how well they execute their security improvements and whether they can convince users and investors that this won't happen again.
Bridge exploits have plagued the crypto industry throughout 2025 and early 2026, with over $400 million stolen from cross-chain infrastructure according to blockchain security…