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IoTeX: The company has pledged to use funds from its treasury to provide 100% compensation to all affected users; the mainnet is now back online.
Svmuu News: The IoTeX team has released an update regarding the ioTube cross-chain bridge security incident that occurred on February 21.The IoTeX mainnet resumed full operations at 6:06 a.m. on February 24. The Mainnet v2.3.4 update permanently banned 29 attacker addresses and froze approximately 45 million IOTX.On-chain analysis reveals that the attackers maliciously minted 410 million CIOTX during this incident; 99.5% of these have been locked or frozen, with only 0.4% liquidated via DEX.The cumulative loss of cross-chain bridge reserve assets amounts to approximately $4.4 million. The attacker exchanged assets such as USDC and USDT for 2,183 ETH, which were then converted into 66.78 BTC via the THORChain cross-chain bridge.Currently, the BTC assets are distributed across four monitored addresses: Bitcoin. The IoTeX Foundation has committed to using treasury funds to provide 100% compensation to all affected users, with specific compensation details to be announced shortly.
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