IoTeX Resumes Layer-1 Network Operations After Upgrade and Malicious Address Filtering

IoTeX Resumes Layer-1 Network Operations After Upgrade and Malicious Address Filtering

According to IoTeX’s official statement, Mainnet v2.3.4 has been restored after the ioTube exploit, with most illicitly minted tokens frozen and full user compensation pledged.

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Fact Check
Multiple high-authority and directly relevant primary sources consistently report that IoTeX restored its Layer-1 blockchain network following a halt due to a security incident, after implementing an upgrade to version 2.3.4 (often reported as 3.4 in some communications). This upgrade included a default blacklist functionality or automatic malicious address filtering, specifically targeting malicious EOA addresses. Both the official IoTeX-affiliated social media channels and co-founder communications confirm the upgrade details and the fact that it was tied to improving network security. Independent crypto media coverage aligns with these official statements, also noting the time correlation between network restoration and the newly implemented filtering measure. No credible contradictory evidence was found in the dataset. The combination of consistency across official, high-authority, and third-party news sources makes the statement highly likely to be true.
Summary

IoTeX announced it restored Mainnet v2.3.4 on Feb. 24, following an ioTube bridge exploit that resulted in about $4.4 million in losses. Attackers minted 410 million CIOTX tokens, of which 99.5% are locked or frozen, and 0.4% were sold via DEX. Proceeds were converted to 2,183 ETH and then 66.78 BTC across four monitored addresses. The network froze 45 million IOTX tokens and has pledged to fully compensate affected users. The restoration includes continued security measures after implementing malicious address filtering in the latest upgrade.

Terms & Concepts
  • Layer-1 network: The base blockchain architecture that processes transactions and smart contracts directly without relying on secondary scaling solutions.
  • EOA (Externally Owned Account): A standard blockchain account controlled by a private key, typically used by human users rather than smart contracts.
  • DEX (Decentralized Exchange): A peer-to-peer trading platform that allows users to swap cryptocurrencies without relying on centralized intermediaries.