Quick Breakdown
- IoTeX announces token buyback and new liquidity partnerships after Binance price glitch.
- Binance confirms the issue was a market maker malfunction, not a protocol exploit.
- IoTeX assures users of full system stability and launches measures to prevent future disruptions.
IoTeX (IOTX) has announced a token buyback initiative and new liquidity partnerships following a temporary price malfunction that briefly drove its token value to near zero on Binance last week. The incident, which occurred between October 10 and 11, was attributed to a third-party market maker error, not a protocol breach, according to the project’s statement on X (formerly Twitter).
Zero Was Not Reality.
@binance has clarified that the “0.0000” $IOTX price shown on Oct 10 was due to UI display and system issue, not real market activity. Price charts are being corrected — the first step toward full resolution. 💪
We stand firmly with every community… https://t.co/NpEV965oUw
— IoTeX (@iotex_io) October 13, 2025
No exploit or fund loss reported
In its October 13 announcement, IoTeX clarified that the event stemmed from a market maker malfunction, stressing that the protocol remained secure and no user funds were compromised. Core network services — including ioPay Wallet, ioTube Bridge, and DePINscan — operated normally throughout the disruption.
Binance also addressed the issue, confirming it was a user interface display error rather than a genuine market collapse. The exchange explained that the “0.0000” IOTX price shown on some pairs resulted from reduced decimal precision combined with intense volatility, which triggered dormant limit orders. Binance added that its spot and futures engines performed normally and that it completed $283 million in compensation payouts to users affected by temporary de-pegging or delayed redemptions across multiple assets within 24 hours.
Strengthening market stability
Following the review, IoTeX stated it will strengthen its coordination with centralized exchanges and liquidity providers to improve market stability and mitigate similar risks in the future. To reinforce investor confidence, the IoTeX Foundation announced a token buyback program alongside new community reward initiatives aimed at supporting long-term holders.
The foundation emphasized that transparency and liquidity remain central to its roadmap as it continues to develop infrastructure for decentralized physical networks (DePIN) and enhance cross-platform trading security.
In parallel, Binance is preparing to roll out its Crypto-as-a-Service (CaaS) platform, enabling licensed banks, brokerages, and stock exchanges to offer crypto trading under their own branding without building infrastructure from scratch. Institutions retain full control of client relationships and the front-end experience, while Binance provides the backend trading and custody framework.
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