IoTeX Launches Compensation Portal for Cross-Chain Bridge Security Incident

On March 23, 2026, IoTeX announced the opening of a compensation application portal for users affected by a cross-chain bridge security incident that occurred on February 21, 2026. The IoTeX Foundation will provide 100% compensation for the losses incurred, which have been reported to be approximately $4.4 million. The incident involved the compromise of IoTeX's private keys, leading to the minting of 410 million CIOTX tokens, of which 99.5% were neutralized. The attacker converted $4.4 million in reserve assets into 2,183 ETH and subsequently swapped them for 66.78 BTC through THORChain. While initial estimates suggested losses of around $4.3 million, IoTeX's official statement indicated on-chain attack losses of roughly $2 million. Affected users can now submit claims via the official portal.

Key Points: • IoTeX has opened a claims portal for 100% compensation of losses from a security incident. • The incident resulted in an estimated loss of approximately $4.4 million due to compromised private keys. • The attacker minted 410 million CIOTX tokens, with most being neutralized through various network upgrades.