IoTeX Token Price Rebounds as Binance Resumes Full Trading Services

IoTeX Strengthens Market Position After Rapid Bridge Hack Recovery

IoTeX, a blockchain built to power the machine economy, has confirmed that deposits, withdrawals, and trading of its native token $IOTX have fully resumed on Binance. The services were briefly paused after a security incident earlier this month. $IOTX resume on binance is seen as a positive recovery whose impact is clear on the token’s price. 

Before the incident, IOTX price was near $0.0053. After the hack, the price dipped to around $0.0041. Following the IoTeX Binance comeback news, the token again surging more than 29.27%, before settling at $0.004959 (+7.5%) in its 24-hours trading.

This becomes important as the whole market is dipping 3.37%, Bitcoin fell 3.24% to $63k amid broader geopolitical tensions such as the U.S. Iran conflicts.  

It also presents the world’s largest crypto exchange–Binance’s power, showing how important its role has become in the price movement of tokens. 

What Happened? The Incident That Stopped Services

On February 21, 2026, IoTeX's ioTube, a cross-chain bridge that lets users move assets like USDC to other chains, was exploited. A validator’s private key on the Ethereum side of the bridge was compromised, allowing the attacker to take control of important smart contracts.

The exploiter drained around $2 million (initial sources) in real bridged assets like stablecoins, ETH, WBTC, and minted large amounts of unauthorized wrapper tokens. The total loss sums up at ~$4.4 million, as per independent security firms and on-chain analysts. Here, the exploit was limited to the bridge infrastructure, user funds held directly on the IoTeX chain were not affected.

Following the incident, major exchanges, including Binance, Upbit, Bithumb, KuCoin, and others, temporarily suspended IOTX deposits and withdrawals as a precaution.

In response, the team upgraded the IoTeX mainnet to version v2.3.4 on February 23, which included a default blacklist of malicious addresses and other security hardening. This allowed the chain to resume full operations safely.

Trust Rebuilding: Compensation Plan and Binance Role

The IoTeX Foundation promised 100% full compensation to all affected bridge users, regardless of whether stolen funds are recovered.

A Claims Portal launched around February 27–28, 2026, where users submit proof as tx hashes, wallet info, for verification and payout. The program worked in two tiers: 

• Tier 1 (90%+ of users): Losses ≤ $10,000 → Immediate 100% payout (in stablecoins or native assets on Ethereum).

• Tier 2 (larger holders): Losses > $10,000 → First $10,000 paid immediately + remaining amount paid quarterly over 12 months and extra 10% bonus in IOTX (via 12-month staking).

Binance, as the world's leading cryptocurrency exchange, significantly bolsters $IOTX (IoTeX) price stability and investor trust. It acts as the primary venue for high-volume trading and liquidity, directly driving global price discovery. 

During the exploit, Binance's precautionary suspension of IOTX intensified short-term selling pressure and FUD, contributing to a notable price dip. However, its rapid resumption of full services, after IoTeX's swift actions, served as a powerful credibility signal. This quick restoration reassured markets, curbed panic, and supported price recovery by enabling seamless trading once again.

What’s Next?

With trading and transfers back online, IoTeX now faces the task of rebuilding full market confidence. For now, operations appear stable, and the network continues running without further disruption.

The incident highlights ongoing risks in crypto bridges but also shows how rapid upgrades and clear communication can help limit long-term damage.