TLDR
- CrediX Finance disappeared after a $4.5M exploit, leaving users in the dark.
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The hack exploited a multisig admin wallet, draining liquidity pools.
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Stability DAO is working with authorities to trace the stolen funds.
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CrediX promised reimbursements but has since stopped communicating with users.
The decentralized finance (DeFi) protocol CrediX Finance has gone silent after a $4.5 million hack. Blockchain security firms confirmed the exploit on August 4, when the platform was compromised, and significant funds were drained. In response, the team behind CrediX Finance paused its website to prevent further losses. Since the breach, CrediX’s website and social media platforms, including its official Telegram and X account, have been inactive.
Blockchain security firm CertiK reported that the breach involved a compromised multisig admin wallet. This allowed the attackers to mint unbacked tokens and use them as collateral to drain liquidity pools from the protocol. The stolen funds were moved to Ethereum after being transferred from Sonic to other addresses. The exploit and the subsequent disappearance of the team have raised concerns that it could be an exit scam.
CrediX Finance Promised Reimbursement But Goes Silent
After the breach, CrediX Finance made an announcement through its now-inaccessible X account, stating that it had reached an agreement with the attacker to return the stolen funds. According to CrediX, the attacker agreed to return the funds in exchange for a payment from the protocol’s treasury.
The team reassured users that all losses would be reimbursed through an airdrop within 24 to 48 hours.
🚨SlowMist TI Alert🚨
MistEye detected that @CrediX_fi has been exploited.
The CrediX Multisig Wallet, 6 days ago, added an attacker as both Admin and Bridge via ACLManager.https://t.co/E6tbBEI76M
This enabled the attacker, acting in the Bridge role, to directly mint… https://t.co/GiXswzNZqS pic.twitter.com/jJjYR1eyET
— SlowMist (@SlowMist_Team) August 4, 2025
However, no further communication has been made by CrediX Finance, and the website has remained offline. The absence of updates has left users in limbo, with many now questioning whether the promised reimbursements will ever materialize. The official disappearance of all platforms and communication has fueled fears that this may be an exit scam.
Stability DAO Takes Action to Recover Stolen Funds
Stability DAO, a decentralized autonomous organization, has stepped in to investigate the incident. The DAO announced that it had gathered information about the CrediX Finance team and would include two team members in its formal legal report.
Stability DAO is working with affected teams and authorities to trace the stolen funds and recover them.
The DAO is collaborating with platforms like Sonic Labs, Euler, Beets, and Trevee, hoping to uncover details of the exploit and take appropriate action. Stability DAO emphasized its commitment to recovering the lost assets, stating that it is gathering evidence and coordinating efforts with legal and cybercrime units to track the funds.
Impact on the Broader DeFi Ecosystem
The hack adds to the growing list of incidents in 2025, with $2.5 billion already lost to hacks and scams within the first half of the year. The CrediX Finance exploit has shaken confidence in the DeFi sector, as investors now face the possibility of a platform abandoning them after a significant financial loss.
CrediX Finance’s abrupt disappearance underscores the risks associated with investing in decentralized protocols.
It also raises concerns about the safety and security of user funds on platforms that lack transparency and accountability. The lack of a recovery plan or further communication from the CrediX team is a stark reminder of the potential vulnerabilities in the DeFi space.
