The post IoTeX Bridge Hacked for $8.8M via Private Key Exploit, IOTX Price Dips appeared on BitcoinEthereumNews.com.

The post IoTeX Bridge Hacked for $8.8M via Private Key Exploit, IOTX Price Dips appeared first on Coinpedia Fintech News IoTeX’s cross-chain bridge was hit by a private key exploit on February 21, draining over $8 million in crypto assets and sending the IOTX token tumbling. The attack, which unfolded between 7 and 9 AM UTC, gave the hacker control over IoTeX’s TokenSafe and MinterPool contracts. On-chain analyst Specter was among the first to flag the breach, reporting that the attacker drained $4.3 million in tokens including USDC, USDT, IOTX, PAYG, WBTC, and BUSD. The stolen assets were quickly swapped to ETH, with approximately 45 ETH bridged to the Bitcoin network. But that was only part of the damage. Attacker Minted Millions in CIOTX and CCS Tokens Beyond the initial drain, the hacker exploited the compromised contracts to mint $4 million in CIOTX tokens and $4.5 million in CCS, pushing total estimated losses toward $9 million. Blockchain security firm PeckShield confirmed the exploit on X, writing: “The IoTeX Bridge has been hacked for over $8M worth of crypto due to a compromised private key. The hacker has swapped the stolen funds to $ETH and has started bridging them to BTC via THORChain.” #PeckShieldAlert The IoTeX[.]io Bridge @iotex_io has been hacked for over $8M worth of crypto due to a compromised private key. The hacker has swapped the stolen funds to $ETH and has started bridging them to #BTC via #Thorchain. pic.twitter.com/uNWHzahk4F — PeckShieldAlert (@PeckShieldAlert) February 21, 2026 Three attacker addresses have been publicly identified so far. IoTeX Says Actual Losses Are Lower IoTeX confirmed the breach by 10:30 AM UTC and pushed back on the circulating estimates. The team stated that “initial estimates indicate the potential loss is significantly lower than circulating rumors suggest.” The company added that it has…

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Filed under: News - @ February 21, 2026 12:18 pm