IoTeX Bridge Exploited For $2 Million After Private Key Compromise

IoTeX, a platform to connect IoT devices to blockchain networks, lost around $2 million after a private key compromise enabled an attacker to drain funds from the project's token safe. Initial loss estimates were as high as $8.8 million, although IoTeX CEO Raullen Chai stated that the actual loss was closer to $2 million.Blockchain security researcher Specter has suggested there may be links between this attack and a $50 million theft from the Infini "stablecoin neobank" a year ago. "IoTeX hit by private key exploit draining around $2 million from bridge contracts, per co-founder" , The Block While the full implications remain to be seen, this development warrants attention from market participants. Users should conduct their own due diligence and stay informed about evolving risks in the space.