IoTeX Suspects Private Key Leak Behind $4.3M Asset Theft

IoTeX Suspects Private Key Leak Behind $4.3M Theft

On February 21, on-chain analyst Specter warned that IoTeX may have experienced a private key leak, leading to a complete drain of its treasury assets, totaling approximately $4.3 million.

Stolen Assets Quickly Moved

On-chain data shows attackers transferred multiple contract assets including USDC, USDT, IOTX, PAYG, WBTC, and BUSD. These assets were swiftly converted into ETH, with approximately 45 ETH bridged over to the Bitcoin network.

Unusual Minting Raises Concerns

Adding to the incident, 111 million CIOTEX tokens were minted at an address starting with 0xA46, prompting further concern over suspicious activity.