CrediX Finance Team Suspected of Exit Scam After $4.5 Million Hack

The CrediX Finance team has sparked widespread suspicion of an exit scam following a $4.5 million hack that left the project's online presence dormant. According to blockchain security firm CertiK, the sudden disappearance of the development team, coupled with the inactivity of the project's X and Telegram accounts since August 4, suggests the hallmarks of a deliberate exit scam [1]. The team had previously claimed to be in negotiations with the hacker for a full reimbursement of the stolen funds, promising a 24–48 hour resolution and a subsequent airdrop of refunds [1].

The breach was reportedly facilitated by a compromised admin wallet, which enabled the attacker to exploit CrediX’s blockchain bridge and mint unbacked tokens. This allowed the hacker to drain liquidity from the platform and transfer the stolen funds from Sonic to Ethereum, where they were distributed across multiple wallets to obscure their trail [1]. Security firm SlowMist revealed that attackers had accessed CrediX’s multisig admin and bridge wallets as early as six days before the exploit, indicating a potential long-term infiltration [2].

Despite initial reassurances from the CrediX team, no updates have been provided since the incident, and all communication channels have been abandoned. The lack of transparency and accountability has only fueled concerns that the team itself may have been complicit in the theft [1]. Stability DAO has taken steps to investigate the matter, tracing two CrediX team members through KYC records and preparing a legal report. It is also collaborating with other affected platforms, including Sonic Labs, Euler, Beets, and Trevee, to pursue recovery of the stolen funds [2].

The CrediX incident comes amid a broader rise in cyberattacks within the crypto space. In the first half of 2025 alone, $2.5 billion was lost to hacks and scams, highlighting the urgent need for stronger security and governance mechanisms in the sector [1]. The event also exposes the inherent risks in decentralized finance (DeFi) projects, where the absence of centralized oversight can leave platforms vulnerable to both external attacks and internal misconduct [1].

The conflicting accounts of the incident—some suggesting a recovery of the full $4.5 million—further complicate the narrative and underscore the lack of clarity surrounding the event [2]. As the investigation continues, the incident serves as a cautionary tale for investors and developers alike, emphasizing the importance of robust security protocols and transparent governance in the fast-evolving crypto landscape [1].

Source:

[1] The (https://www.cryptotimes.io/2025/08/08/credix-team-suspectedly-pulls-off-exit-scam-after-4-5m-hack/)

[2] aiwarmaps.com (https://aiwarmaps.com/)