IoTeX Launches Aggressive Token Buybacks & Liquidity Programs After Binance Price Anomaly
When Binance's trading algorithms went haywire, IoTeX didn't just watch from the sidelines—they're fighting back with capital.
The Buyback Blitz
IoTeX is deploying treasury funds for systematic token repurchases, creating artificial scarcity while the market recovers from the exchange glitch. Smart move or desperate measure? The charts will tell.
Liquidity Injection Strategy
Multiple liquidity pool enhancements are rolling out across decentralized exchanges. More depth, less slippage—exactly what traders need after getting whipsawed by malfunctioning order books.
Damage Control Mode
The team's rapid response shows they understand something most crypto projects don't: market confidence is more fragile than a trader's ego during a flash crash. One minute you're riding high, the next you're explaining to investors why the charts look like a seismograph during an earthquake.
Will these measures restore equilibrium? Only time—and probably a few more exchange 'anomalies'—will tell.
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.
