Finance News
By Pankaj K
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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…
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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…
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IoTeX focuses on Internet of Things applications, positioning itself as the blockchain for connected devices and smart infrastructure.
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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.
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Cybersecurity firm PeckShield jumped in on February 22, offering to help analyze the breach.
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Markets reacted predictably. For more details, see Crypto Search Interest Crashes to 2022.
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IoTeX token price dropped to around $0.07 on February 23, reflecting investor anxiety about the platform's security.
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Blockchain analyst Sarah Liu weighed in on February 24, suggesting other platforms might reassess their security measures because of IoTeX's problems.
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IoTeX announced plans on February 25 to work with external cybersecurity experts, trying to rebuild trust and strengthen their defenses.
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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.
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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…
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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.
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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…
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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.
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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…
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