IoTeX: Security Incident Controlled, $2M Loss, Expecting Withdrawals & Deposits to Resume in 24-48 hours

BlockBeats News, February 22nd, IoTeX has released the latest security incident update, stating that the team has contained the related risks and the IoTeX network is being reinforced. Current data shows that the impact of this attack is approximately $2 million, involving assets such as USDC, USDT, IOTX, and WBTC.

Investigations show that this incident was a sophisticated attack that was planned over a long period. The attacker was a professional group and targeted multiple blockchains. IoTeX stated that they are closely collaborating with exchanges and law enforcement to freeze the stolen funds and progress with tracking and recovery efforts.

On-chain operations and deposits/withdrawals are expected to resume within 24 to 48 hours. The team will reopen the relevant functions after completing the security upgrade and commit to providing transparent updates in the future.