Gate News: On March 6, IoTeX released an update report on the ioTube cross-chain bridge security incident. On-chain analysis indicates that the actual economic loss from this event was approximately $4.4 million. Although the attacker minted 410 million CIOTX tokens, 99.5% of them have been neutralized through locking or network upgrade freezes on the Ethereum and Base networks. The attacker converted about $4.4 million in reserve assets into 2,183 ETH, which was ultimately exchanged for 66.78 BTC via THORChain. The IoTeX Foundation has committed to fully compensate all affected users using the foundation’s treasury, with specific plans to be announced later.
The IoTeX mainnet resumed full operation on February 24. The core team blacklisted 29 attacker wallet addresses through the Mainnet v2.3.4 upgrade, permanently freezing approximately 45 million IOTX at the network level. Currently, the team is coordinating with over 20 exchanges to restore deposit and withdrawal services. IOTX trading was not affected by this incident.
Additionally, IoTeX will transition to decentralized bridge governance through the IIP-55 proposal, introducing multi-party verification committees, multi-signature, and time lock controls, along with an independent security audit of the ioTube infrastructure.
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