IoTeX plunges intraday on suspected hacking incident

Uk Jin

Summary

IoTeX (IOTX) plunged 7.41% intraday to $0.004963.
The market suspects IoTeX suffered a hack and a private key leak.
An attacker allegedly used bridge owner privileges to mint a large volume of IoTeX tokens, deposited them to Binance, and sold them.

IoTeX (IOTX) tumbled intraday. Market participants are claiming the project has suffered a hack.

As of 5:50 p.m. KST on the 21st, IoTeX was down 7.41% from the previous day at $0.004963, according to CoinMarketCap.

The drop is being attributed to an alleged hacking incident. An X user said, "IoTeX is believed to be experiencing a private key leak," adding that "the attacker accessed bridge owner privileges and minted a large amount of IoTeX tokens."

The tokens were reportedly deposited to Binance and sold.

IOTX