IoTeX hit by private key exploit draining around $2 million from bridge contracts, per co-founder

• IoTeX co-founder Raullen Chai said losses are “significantly lower” than circulating estimates, but has not provided a specific figure.

Article Summaries:

• IoTeX has confirmed a security breach that drained roughly $2 million from its bridge contracts, according to co‑founder Raullen Chai. The incident involved a private‑key exploit that allowed attackers to siphon funds from the network’s cross‑chain bridge infrastructure. While the exact loss figure remains undisclosed, Chai stated that the actual impact is “significantly lower” than the circulating estimates of $2 million. The company has not yet released a detailed breakdown of the affected assets or the steps being taken to remediate the vulnerability.

Sources:

• https://www.theblock.co/post/390698/iotex-hit-by-private-key-exploit-draining-up-to-8-8-million-from-bridge-contracts?utm_source=rss&utm_medium=rss