CrediX Finance Collapse Sparks Rug Pull Fears Amid Wallet Hacks

Investors are growing wary that the collapse of CrediX Finance may have been orchestrated as a rug pull, following a series of alarming developments. Blockchain security analysts reported that attackers gained control of key administrative wallets nearly a week before the incident, allowing them to mint assets, use them as collateral, and drain the protocol’s liquidity [1]. This unauthorized activity led to the immediate suspension of the platform’s operations. The situation worsened when all of CrediX’s official communication channels—including its website, social media, and Telegram—were taken offline, effectively cutting off transparency and user access [1].

Prior to the shutdown, CrediX announced that it had reached an agreement with the hacker, claiming that the stolen funds would be returned within 48 hours in exchange for a payment. The platform promised full reimbursement to affected users. However, no evidence has emerged to confirm the repayment, deepening concerns among the community [1].

In response to the incident, Stability DAO, along with affected projects such as Sonic Labs and Trevee, has initiated a joint investigation into the breach. According to the DAO, it holds identity verification records for two CrediX team members, which are being shared with relevant authorities. Trevee, which incurred indirect losses, has since reduced its exposure and paused some token activities as a precaution [1].

The abrupt loss of both the funds and the development team has led many to question whether this was a genuine effort to recover stolen assets or a deliberate scheme to deceive investors. The possibility of a rug pull—where developers abandon a project and take investors' funds—has become a pressing concern for the DeFi community [1].

Source: [1] Investors Fear Rug Pull After CrediX Finance Wipeout (https://coinmarketcap.com/community/articles/68962e311214ff464aa19093/)