After the recent security incident of IoTeX ($IOTX ), many investors are questioning:
Are whales accumulating or preparing to offload?
Look at the on-chain data + large cash flow to understand what is really happening.
⚠️ Event causing significant volatility in IOTX.
On 21/02/2026, IoTeX's ioTube bridge system was exploited due to the validator's private key being compromised.
Approximately $4.3M – $4.4M of assets have been stolen.
Tokens have been swapped across multiple chains and converted to BTC
IOTX price dropped about 22% after the event.
This creates panic selling from retail.
But the interesting thing is:
👉 whale cash flow is behaving differently.
Whales are accumulating, according to on-chain tracking data:
Large wallets (≥1% supply) increased by ~2.5 million IOTX in the past week.
Large cash flow appears after price drops.
Open interest on futures has increased but there hasn't been a large liquidation.
This usually indicates: Smart money buys when retail is panicking.
A quite typical signal in the crypto market.
Although the project just underwent a significant upheaval, it quickly recovered and reinforced trust for the community and investors.