When iron (Fe) is oxidized to Fe2+ ions, the iron atom loses two electrons. This process is also known as the reduction of iron, as it involves the gain of electrons by oxygen atoms. The overall reaction can be represented as:

Fe(s) → Fe2+(aq) + 2e-

In this reaction, iron atoms in the solid state (Fe) are converted into Fe2+ ions, which are positively charged and dissolved in water (aq). The two electrons lost by the iron atoms are transferred to oxygen atoms, which become negatively charged oxygen ions (O2-) and combine with water molecules to form hydroxide ions (OH-).