IoTeX addresses Market Maker Glitch with Token Buyback and Liquidity Boost
IoTeX is taking action too stabilize its token after a recent glitch caused price irregularities. The team plans to launch a token buyback program and enhance exchange liquidity.
On October 10-11, 2025, IoTeX (IOTX) experienced a brief price dip to near-zero on binance. This was due to a market maker issue,not a protocol exploit. The glitch was a user interface problem, not a crash. Binance resolved it quickly.
IoTeX confirmed the issue via a post on X.The “zero price” event was caused by a third-party market maker malfunction. Core services like ioPay wallet and ioTube bridge remained unaffected.
To prevent future disruptions, IoTeX will collaborate with exchanges and market makers. The foundation will also initiate token buybacks and community rewards. These steps aim to boost confidence among long-term holders.
Initially, the IOTX price fell from $0.015 to $0.0125, a 15-20% drop. This was part of a larger 42% weekly decline due to market conditions. However, trading volume spiked to over $24 million in 24 hours. By October 13, the price stabilized around $0.013.
Community reaction was mixed at first, but IoTeX’s clarity helped restore trust. The team’s fast communication was praised.With over 100 projects and 40 million devices on its network, IoTeX is moving towards AI-integrated DePIN infrastructure. deflationary mechanisms like Burndrop are reducing the circulating supply, strengthening IOTX’s position in the AI-DePIN space.
For more details, check the official IoTeX post.
