PANews February 26 News, the IoTeX Foundation announced the latest tracking and full compensation plan for the security incident involving the ioTube cross-chain bridge that occurred on February 21. The team stated that they have completed full-chain tracking of the stolen funds. Most CIOTX tokens have been frozen on the chain, while the remaining assets have been converted into approximately 2,183 ETH and transferred to the Bitcoin network. The related BTC addresses are currently under monitoring. The foundation commits to 100% compensation for all users holding USDC, USDT, ETH, or WBTC bridged from Ethereum to IoTeX at the time of the incident: users with losses of $10,000 or less can receive a full payout in one go; users with losses exceeding $10,000 will receive an immediate payout of the first $10,000, with the excess distributed over four quarters, plus an additional 10% compensation paid in IOTX staked for 12 months. The platform will open the official recovery address and Claims Portal on February 27. Users need to consolidate their affected assets, transfer them once, and submit on-chain transaction information to complete verification and payout processes.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Founder Vitalik Buterin Wants Running a Node to Feel Less Like Rocket Science
Vitalik Buterin emphasizes simplifying Ethereum’s validator process by merging separate clients into one, enhancing user experience. He advocates for revisiting the architecture to ensure better accessibility and diversity among validators, mitigating risks from large staking pools.
Decrypt2h ago
Pi Network Starts Second Migration: Here’s What You Must Do to Be Eligible
Pi Network has initiated second migrations, allowing Pioneers to transfer more Pi to Mainnet, enhancing wallet security with two-factor authentication. This update may positively impact Pi Coin's market price, currently just below $0.20.
CaptainAltcoin3h ago
PancakeSwap Unveils PancakeSwap Town, an Immersive DeFi World With AI Agent-Integration
PancakeSwap has launched PancakeSwap Town, an interactive DeFi environment featuring AI-led tools. Users can control crypto strategies via a browser-based interface, utilizing AI assistance for swaps, yield farming, and liquidity management while retaining full transaction control.
BlockChainReporter5h ago
Cardano (ADA) Holds Top 10 Market Cap Rank as OI Surge Offsets Bears - U.Today
Cardano has regained its position in the Top 10 cryptocurrencies, currently ranking 10th with a market cap of $10.34 billion. The crypto market is experiencing a rally, with Cardano seeing significant volume increases and positive sentiment ahead of its upcoming Van Rossem hard fork.
UToday6h ago
HSBC and Standard Chartered Near Hong Kong Stablecoin Licenses
Hong Kong regulators received 36 stablecoin license applications but plan to approve only a few issuers.
HSBC and Standard Chartered are expected among the first licensed HKD stablecoin issuers.
The licensing framework builds on a sandbox program launched in 2024 to test stablecoin
CryptoFrontNews7h ago
Pi Network Efforts to Restructure Web3 Launch Platform — Price Action Shows Otherwise
Pi Network officially launched its first version of Pi Launchpad on Testnet with a unique token mechanism on March 16. While it signifies progress, the market response has been negative, with PI's value dropping by 8.9%. The impact on investor sentiment remains uncertain.
TapChiBitcoin8h ago
