IoTeX Blockchain Suffers Security Breach After Private Key Compromise

IoTeX, a blockchain network launched in 2019, has been hit by a security breach after attackers compromised a private key linked to its token safe and bridge infrastructure.

The attack allowed the attacker to move funds across blockchains, making recovery harder. The IoTX token fell about 9% following news of the hack.

IoTeX said it has secured the chain and contained the threat. The team confirmed that stolen assets include USDC, USDT, IOTX, and WBTC.