IoTeX (IOTX) has announced plans for a token buyback program and liquidity enhancement initiatives following a brief but alarming market disruption that caused its price to momentarily display as zero on Binance.
⚙️ “Zero Price” Was a Display Glitch, Not a Crash
In an October 13 post on X, the IoTeX Foundation clarified that the sudden “zero price” display for IOTX on October 10–11, 2025, was not caused by a protocol exploit but rather by a third-party market maker malfunction combined with a Binance UI display error.
“Zero was not reality,” the team wrote.
“Binance has clarified that the ‘0.0000’ IOTX price shown on Oct. 10 was due to a UI and system issue, not real market activity.”
Binance later confirmed that its spot and futures trading engines operated normally throughout the incident. The display error was attributed to a reduced decimal precision bug on certain trading pairs, which amid extreme market volatility temporarily triggered old limit orders that skewed the displayed price.
Importantly, no user funds were affected, and IoTeX’s core services including ioPay wallet, ioTube bridge, and DePINscan remained fully operational during the event.
🪙 IoTeX Launches Recovery and Buyback Plan
Following Binance’s clarification, IoTeX said it will collaborate with centralized exchanges and market makers to improve trading stability and liquidity depth.
To further restore confidence, the IoTeX Foundation announced a token buyback initiative and community reward programs aimed at supporting long-term holders and strengthening the project’s liquidity framework.
The glitch and subsequent sell-off briefly sent IOTX down 15–20%, from $0.015 to $0.0125, extending an already steep 42% weekly decline caused by the broader market downturn. However, trading volume surged past $24 million, and prices stabilized around $0.013 by October 13, as investor confidence returned.
🤝 Transparency Helps Restore Trust
Initially, the community reacted with concern, drawing comparisons to past exchange issues in other tokens. However, IoTeX’s transparent communication including posts from co-founder Raullen Chai reassuring users that “no funds were at risk” helped calm fears and restore market trust.
Users on social media later praised the team’s fast response and proactive communication, contrasting it with the slower handling of similar issues by other projects.
🔗 IoTeX Expands AI-DePIN Focus
The incident comes as IoTeX accelerates its transition toward AI-integrated DePIN (Decentralized Physical Infrastructure Network) solutions. With more than 100 projects and 40 million connected devices, IoTeX is increasingly seen as a key player in the AI + blockchain infrastructure space.
Meanwhile, its deflationary Burndrop mechanism continues to burn supply, reinforcing IOTX’s long-term tokenomics and aligning with the growing AI-DePIN narrative in the Web3 ecosystem.
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