IoTeX Token Buyback and Liquidity Boost Announced Following Market Disruption
IoTeX has announced a token buyback program and new liquidity partnerships following a technical glitch that caused irregular price movements and briefly crashed the token’s value on Binance.
Price Crash Traced to Market Maker Malfunction
In an Oct. 13 post on X, IoTeX confirmed that the “zero price” event between Oct. 10–11, 2025, was not the result of a protocol exploit, but rather a malfunction from a third-party market maker. Core services — including ioPay wallet, ioTube bridge, and DePINscan — remained fully operational throughout the disruption, and no user funds were compromised.
The issue, which caused IOTX to momentarily display a price of “0.0000” on Binance, was identified as a user interface display error, not an actual market collapse. According to Binance, the anomaly was due to a reduction in decimal precision during a period of extreme volatility, which triggered dormant limit orders. Binance later confirmed its spot and futures systems worked normally and issued $283 million in compensation for users impacted by de-pegging or redemption delays.
IoTeX Responds with Recovery Measures
In response, IoTeX is working closely with centralized exchanges and market-making partners to improve liquidity resilience. As part of its recovery strategy, the foundation has launched a token buyback initiative and community reward programs aimed at restoring long-term holder confidence.
Following the incident, IOTX dropped 15–20%, hitting a low of $0.0125 from $0.015, compounding a weekly loss of 42% amid broader market weakness. Still, trading volume spiked to over $24 million in 24 hours, with the token stabilizing near $0.013 by Oct. 13.
Despite initial concern, IoTeX’s transparent communication helped rebuild trust. Posts from both the official account and co-founder Raullen Chai reassured users that funds remained safe, earning praise from the community for their swift response.
As IoTeX pushes forward with its AI-integrated DePIN infrastructure, the project continues to leverage deflationary mechanisms like Burndrop to reduce circulating supply and reinforce IOTX’s role in the evolving AI-DePIN narrative.
