IoTeX Hit by Private Key Exploit, Attacker Drains Over $2 Million
An attacker exploited a private key vulnerability in IoTeX's contracts, draining an estimated $2 million to $8.8 million in crypto assets.Summary
On February 21, IoTeX suffered a significant security breach when an attacker gained control of the platform's TokenSafe and MinterPool contracts using a compromised private key. This exploit allowed the hacker to drain substantial crypto assets, initially estimated around $2 million, though on-chain analysts suggested total losses could reach nearly $8.8 million, including USDC, USDT, IOTX, WBTC, PAYG, and BUSD tokens. The attacker complicated recovery efforts by bridging stolen ETH to Bitcoin via THORChain. IoTeX confirmed the situation is under control, with exchanges cooperating to freeze funds, and anticipated the IoTeX chain would resume operations within 24 to 48 hours. The incident caused the IOTX token price to drop by over 9%.
(Source：BeInCrypto)