IoTeX | Crypto

Raullen Chai, IoTeX co-founder and CEO, told CoinDesk he would not press charges if the stolen assets or its equivalent is returned within 48 hours.

IoTeX said it is assessing suspicious activity tied to a token safe, coordinating with exchanges to trace funds after analysts linked the incident to a possible private key compromise. Decentralized identity protocol IoTeX has confirmed that it is investigating unusual activity tied to one of its token safes after onchain analysts flagged a possible security incident. In a Saturday post on X, the project said its team was “fully engaged, working around the clock to assess and contain the situation.” IoTeX added that early estimates indicate the potential loss is lower than circulating rumors and that it has coordinated with major exchanges and security partners to trace and freeze funds linked to the attacker. “The situation is under control. We will continue to monitor closely and provide timely updates to the community,” the project said. Read more

In Q1 2025, IoTeX advanced its DePIN and AI initiatives with the launch of Quicksilver, a framework that enables AI agents to act on decentralized physical data. New partnerships with GEODNET and Nubila integrated device-level verifiability through ioID, supplying verified data inputs for the Quicksilver framework. Average daily active wallets and transactions declined QoQ but remained up 850% and 2,250% YoY, respectively. Total network fees decreased 55% QoQ to $201,000 but were still up 980% YoY, with ioID activation fees showing relative resilience compared to other revenue sources.