CrediX Recovers $4.5M in Stolen Crypto Through Private Settlement

CrediX, a money market abstraction infrastructure protocol, has managed to recover $4.5 million in digital assets following a security breach, marking a rare success in the often volatile realm of cryptocurrency exploits [1]. The incident occurred when a Tornado Cash-funded wallet bridged over $4.5 million worth of assets to the Ethereum network, as reported by blockchain security firm Cyvers [1]. In a surprising turn of events, CrediX announced a private settlement with the attacker, who agreed to return the stolen assets in exchange for an undisclosed payment from the protocol’s treasury [1].

According to the statement posted on X, the exploiter committed to returning the funds within 24–48 hours, following a successful negotiation [1]. CrediX further indicated that it plans to airdrop the recovered assets to the affected users within the next 48 hours, ensuring that the victims see some form of restitution [1]. This outcome reflects the growing trend of attackers returning stolen funds in exchange for negotiated settlements or bounties. For instance, on July 11, an exploiter returned $40 million from the GMX exploit after receiving a $5 million white hat bounty [1]. Similarly, in May 2024, a thief returned $71 million from a wallet poisoning scam under intense pressure from global blockchain investigators [1].

The success of this negotiation comes amid a broader increase in crypto-related attacks in 2025. Onchain security firm CertiK reported that losses from hacks, exploits, and scams have reached $2.47 billion in the first half of the year, with $800 million lost in the second quarter alone [2]. Despite such alarming figures, a growing number of protocols are managing to recover assets through private settlements or by offering bounties to white hat hackers. These cases demonstrate the increasing complexity of cryptocurrency security challenges and the potential for cooperative strategies in mitigating losses.

However, the long-term effects of such incidents remain concerning. Onchain security firm Immunefi reported that nearly 80% of cryptocurrencies never recover their price after a hack or exploit, often inflicting more damage on the project than the theft itself [2]. CrediX’s ability to recover the funds quickly is therefore a significant positive signal for both the protocol and its users.

The broader financial sector is also experiencing similar threats. On July 5, C& M Software, a Brazil-based service provider linking the Central Bank to local banks, was hacked for $140 million across six connected institutions. The breach reportedly occurred when an employee sold his login credentials to the attacker for $2,700 [2]. This incident highlights the growing risk of cyberattacks extending beyond decentralized finance into traditional financial systems.

CrediX’s case underscores the evolving dynamics in cryptocurrency security. While the frequency of exploits remains high, the willingness of attackers to negotiate or return funds is increasing, particularly when the financial or reputational cost of holding stolen assets becomes significant. As the industry moves forward, such negotiations may become more common and serve as a tool for both recovery and deterrence.

Source:

[1] CrediX negotiates crypto recovery: 4.5M hack

https://cointelegraph.com/news/credix-negotiates-crypto-recovery-4-5m-hack?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

[2] CertiK report on 2025 crypto hacks and losses