IoTeX proposes a 100% user compensation plan for the ioTube hacking incident: users with $10,000 or less will receive immediate compensation.
PANews reported on February 26 that the IoTeX Foundation announced its latest tracking and full compensation plan regarding the ioTube cross-chain bridge security incident that occurred on February 21. The team stated that it has completed the full-chain tracking of the stolen funds. Most of the CIOTX has been frozen on-chain, and the remaining assets have been converted into approximately 2,183 ETH and crossed over to the Bitcoin network. The relevant BTC addresses are currently under monitoring. The Foundation promises 100% compensation to all users who held USDC, USDT, ETH, and WBTC bridged from Ethereum to IoTeX at the time of the incident: users with losses of $10,000 or less will receive a one-time full compensation; users with losses exceeding $10,000 will receive the first $10,000 immediately, with the remainder distributed over four quarters, plus an additional 10% compensation in the form of 12-month staked IOTX. The platform will open the official recovery address and Claims Portal on February 27. Users need to summarize their affected assets, transfer them all at once, and submit on-chain transaction information to complete the verification and compensation process.
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