@IoTeX Network is currently investigating a suspected security breach involving one of its token safes, after on-chain analysts detected unusual activity suggesting a potential compromise.
The $IOTX token declined by more than 8%, falling to approximately $0.0049, as traders reacted to the incident.
It is estimated that around $4.3 million was drained from the affected wallet, including assets such as USDC, USDT, IOTX, and wrapped Bitcoin. The stolen funds were subsequently converted into Ether and transferred across multiple blockchain networks.