Bridged USD Coin (IoTeX)
IOUSDC
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
IOUSDC (Bridged USD Coin on IoTeX) is an officially deprecated wrapped stablecoin derivative that has suffered severe structural, security, and market failures. Active Development scored -1.0 due to missing ongoing independent development following the passage of governance proposal IIP-30, which officially approved the migration and deprecation of ioUSDC in favor of native Circle-standard USDC.e. Additionally, the token is severely impaired by a catastrophic security incident on February 21, 2026, when the underlying ioTube bridge was exploited via private key compromise, resulting in an estimated $4.3M to $8.8M drain and unauthorized bridge minting. As established in the Security analysis: "On February 21, 2026, the ioTube bridge — the very mechanism that creates and backs IOUSDC on IoTeX — was exploited via private key compromise affecting the Ethereum-side bridge contracts". Furthermore, the token has experienced an unrecovered ~61% depeg, trading at approximately $0.388 with near-zero trading liquidity. Due to active deprecation and migration alongside critical bridge insolvency risks, users should avoid this asset.
Development Activity
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Community Support
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Tokenomics
Supply, distribution, and utility
Market & Use Case
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Team & Governance
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Security & Audits
Security history and audit status
About Bridged USD Coin (IoTeX) (IOUSDC)
Bridged USD Coin (IoTeX) (IOUSDC) is a deprecated wrapped stablecoin derivative on the IoTeX blockchain that is being replaced by native Circle-standard USDC.e following the passage of governance proposal IIP-30. IOUSDC was created via the ioTube multi-chain bridge to represent Circle's USD Coin on the IoTeX network under contract address 0x3b2bf2b523f54c4e454f08aa286d03115aff326c. As a bridge-wrapped derivative, the token's backing and value relied on the security and reserve integrity of the ioTube bridge infrastructure.
On February 21, 2026, the ioTube bridge experienced a private key compromise affecting its Ethereum-side contracts. The breach resulted in an estimated drain between $4.3 million and $8.8 million in assets, as well as unauthorized bridge minting. The incident led to an IoTeX blockchain halt lasting an estimated 24 to 48 hours, requiring an emergency hard fork upgrade to Mainnet v2.3.4. Following the security event, exchanges Upbit and Bithumb placed the network's native token (IOTX) on investment warning watchlists.
Following the compromise and the approval of the migration plan, IOUSDC suffered a substantial depeg, trading at approximately $0.388 (roughly 61% below its $1.00 target). The token has experienced depleted trading volume and liquidity as ongoing support winds down in favor of USDC.e.