Wrapped IoTex
WIOTX
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WIOTX (Wrapped IoTeX) serves as the canonical wrapped representation of native IOTX. While the broader IoTeX ecosystem demonstrates active core development (scores 7.5/10), active community governance (6.5/10), established tokenomics with burn mechanics (6.5/10), and reputable leadership (7.0/10), the asset suffers from critical standalone security and market vulnerabilities. Standalone market metrics are poor (score 3.0/10), characterized by a small market cap (~$2.6M), near-zero trading volume, and headwinds from Coinbase's planned suspension of underlying IOTX trading. More critically, the Security and Audit History section (score 3.0/10) affirmatively establishes a qualifying red-flag event: 'On February 21, 2026, the ioTube bridge suffered an exploit via a compromised validator owner private key on the Ethereum side — an operational key-management failure, not an audited-code vulnerability', resulting in approximately $4.4M in confirmed direct asset losses and unauthorized minting of ~410M wrapped tokens. Because this severe security incident occurred within the last 24 months on the bridge infrastructure backing the asset and wrapper contracts lack independent third-party audit coverage, the overall score is capped at 5.0 (reduced from the mathematical weighted average of 5.73).
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wrapped IoTex (WIOTX)
Wrapped IoTeX (WIOTX) is the canonical wrapped ERC-20 representation of IOTX, the native cryptocurrency of the IoTeX blockchain. Deployed on the IoTeX network and bridged to networks such as Energi, WIOTX is designed to facilitate 1:1 parity with native IOTX, allowing the underlying asset to interact with standard smart contracts, decentralized applications, and cross-chain bridging mechanisms via the ioTube bridge protocol.
WIOTX does not maintain an independent codebase, roadmap, or standalone leadership; instead, it directly inherits the technical framework and governance structure of the IoTeX network. Founded in 2017 with leadership from co-founder Raullen Chai, IoTeX utilizes a community governance model where proposals are deliberated on forums and voted upon through Snapshot. The underlying tokenomics of IOTX feature a 10 billion maximum supply and a Burn-Drop mechanism that reduces the circulating supply as new devices register on the network.
The asset has experienced material security and market challenges. On February 21, 2026, the ioTube bridge suffered an exploit resulting from a compromised validator owner private key on the Ethereum side, enabling an attacker to mint approximately 410 million unauthorized wrapped tokens and drain assets, leading to an estimated direct loss of $4.4 million (with initial reports estimating up to $8 million). IoTeX subsequently reported that 99.5% of the anomalous tokens were intercepted or frozen and committed to compensating affected users. Additionally, third-party security evaluations noted an absence of dedicated audits for the wrapper contracts, while market metrics show limited standalone liquidity and an adverse event involving Coinbase suspending trading for the underlying IOTX token in September 2026.