IoTeX bridge hacked, $8M in crypto stolen and converted to BTC

The IoTeX (IOTX) bridge has been exploited due to a private key leak, resulting in the theft of $8 million worth of cryptocurrency, according to a report from PeckShield. The security firm noted that the stolen funds were first swapped for Ethereum (ETH) and are now being bridged to Bitcoin (BTC) through ThorChain. PeckShield added that the attacker appears to be in the process of laundering the funds.