The post IoTeX Hit by Private Key Exploit, Attacker Drains Over $2 Million appeared on BitcoinEthereumNews.com.

A private key exploit gave an attacker control of IoTeX’s TokenSafe and MinterPool contracts on February 21. Eventually, the hackers drained an estimated $2 million in crypto assets, sending IOTX down by over 9%. Why it matters: IOTX holders face direct losses as the token fell roughly 9.2% to $0.0049, according to CoinGecko data. The attacker used THORChain to bridge stolen ETH to Bitcoin, complicating efforts by exchanges and security partners to freeze the funds. IoTeX confirmed the situation is “under control,” and the exploit impact is around $2 million USD. But some on-chain analysts suggest total losses could reach $8 million. The details: The attack unfolded between 7 and 9 AM UTC on February 21, giving the hacker full access to IoTeX’s TokenSafe and MinterPool contracts via a compromised private key. On-chain analyst Specter flagged the breach first, reporting $4.3 million drained in USDC, USDT, IoTeX (IOTX), WBTC, PAYG, and BUSD. The hackers swapped the Stolen funds to ETH and bridged approximately 45 ETH to Bitcoin via THORChain. The hacker also drained 9.3 million CCS tokens worth roughly $4.5 million, pushing total estimated losses toward $8.8 million, as per Specter. IoTeX co-founder Raullen Chai stated on X that exchanges are cooperating to freeze related addresses. The IoTeX chain is expected to resume in 24–48 hours. The post IoTeX Hit by Private Key Exploit, Attacker Drains Over $2 Million appeared first on BeInCrypto. Source: https://beincrypto.com/iotex-hacker-drain-over-8-million/

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Filed under: News - @ February 21, 2026 9:13 pm