CrediX DeFi Platform Exploit Drain $4.5M Through Admin Role
CrediX, one new DeFi lending platform wey dem launch last month, lose $4.5 million because of admin-role exploit. Peckshield find out say one admin wallet wey end for “EC662e” and get POOL_ADMIN, BRIDGE and other roles don spoil. Di attackers use di bridge role comot wrapped USDC (acUSDC) from different protocols like deBridge Finance, Fly and Shadow Exchange. CrediX don admit di exploit and promise say dem go refund all users fully within 24–48 hours. Dis CrediX exploit na another big DeFi hack for 2025, wey push total crypto loss pass $3 billion—$1 billion pass 2024. Access-control exploits now dey cause 59% of dis kain loss. Di rise for DeFi exploit shows say new protocols get serious security gbege. Traders suppose dey watch smart-contract audits and bridge risks when dem dey deal with platforms wey no yet check well.
Bearish
Big-big exploits like di CrediX exploit dey spoil trader confidence and show protocol wahala dem. Historically, high-profile DeFi hacks don cause sell-offs and beta risk aversion, wey lead to liquidity withdrawals and price downturn for di suffering sectors. Short-term, market people go likely reduce how dem dey expose demself to new lending platforms and wrap tokens, wey go put downward pressure on related assets. Long-term, di matter dey show say strong security audits and governance controls dey needed, wey fit slow DeFi growth but e go make am resilient overall.