IoTeX Addresses Market Maker Glitch with New Initiatives
IoTeX is taking steps to stabilize its token after a recent glitch.
IoTeX tackles Market maker Issue with Token Buybacks and liquidity Boost
IoTeX is launching a token buyback program and enhancing exchange liquidity following a market maker glitch that caused price irregularities. The incident, which briefly sent IoTeX’s price to near-zero on Binance, was due to a third-party market maker issue, not a protocol exploit.
On October 13, IoTeX clarified that the “zero price” event on October 10-11, 2025, was a UI glitch. Core services like ioPay wallet and ioTube bridge remained unaffected, and no user funds were at risk. IoTeX’s official statement reassured users.
Binance confirmed it was a display issue caused by reduced decimal precision and extreme volatility. the exchange compensated affected users within 24 hours, totaling $283 million.
IoTeX plans to collaborate with exchanges and market makers to boost liquidity. The foundation will also conduct token buybacks and community reward programs to restore confidence. Despite a 15-20% price drop, IoTeX stabilized around $0.013 by October 13.
Initially, the community was cautious, but IoTeX’s openness and rapid interaction helped restore trust. With over 100 projects and 40 million devices on its network, IoTeX continues its shift toward AI-integrated DePIN infrastructure. Deflationary mechanisms like Burndrop are reducing the circulating supply, strengthening IoTeX’s position in the AI-DePIN market.
