IoTeX plans to launch a token buyback program and strengthen exchange liquidity after a temporary market maker issue caused irregular price movements.
Summary
- IoTeX confirms Binance “zero price” was a UI glitch tied to a market maker issue.
- Foundation to launch buybacks and liquidity programs to stabilize trading.
- IOTX price recovered to as users praised the team’s transparent handling.
IoTeX has announced a token buyback program and new liquidity partnerships following a market maker incident that briefly disrupted trading and sent its price to near-zero on Binance.
In an Oct.13 post on X, IoTeX (IOTX) confirmed that the “zero price” event on Oct. 10–11, 2025, was linked to a third-party market maker malfunction and not a protocol exploit. The network’s core services — including ioPay wallet, ioTube bridge, and DePINscan — remained fully operational, and no user funds were affected.
Incident traced to liquidity glitch, not exploit
The team clarified that Binance had already addressed the issue, confirming it was a user interface display problem rather than an actual market crash. In its statement, Binance said the “0.0000” IOTX price displayed during the event resulted from reduced decimal precision on certain trading pairs, combined with extreme volatility that briefly triggered long-standing limit orders.
Binance’s review also showed that its spot and futures engines functioned normally throughout the market-wide sell-off. The exchange completed compensation for users affected by de-pegging or delayed redemptions within 24 hours, totaling roughly $283 million in payouts across multiple assets.
IoTeX launches recovery plan
Following the clarification, IoTeX said it will work closely with centralized exchanges and market-making partners to boost liquidity and prevent similar disruptions. In an effort to boost long-term holders’ confidence, the foundation also announced token buybacks and community reward programs.
The event caused IOTX to fall around 15–20%, from $0.015 to $0.0125, amplifying an already steep 42% weekly decline tied to broader market weakness. Trading volume surged past $24 million in 24 hours, but the token stabilized around $0.013 by Oct. 13.
At first, the community became cautious, with some traders comparing the incident to other projects. IoTeX’s openness and quick communication, however, contributed to the restoration of trust. The official account and co-founder Raullen Chai’s posts emphasized that “no user funds were at risk,” and users later commended the team for their prompt action.
With more than 100 projects and 40 million connected devices on its network, the incident comes as IoTeX is making a bigger shift toward AI-integrated DePIN infrastructure.. Deflationary mechanisms like Burndrop continue to reduce circulating supply, reinforcing IOTX’s positioning in the expanding AI-DePIN narrative.
