Credix DeFi Platform Lose $4.5M for Multisig Bridge Hack
Di Credix hack wey happen for im DeFi lending platform, hackers comot $4.5 million by take advantage say multisig wallet no configure well for im ACLManager, wey give dem admin and bridge power without permission. Using the bridge power, the attacker mint and borrow assets, commot almost all Credix liquidity pools. Security companies SlowMist and Cyvers Alerts connect the hack to Tornado Cash funded addresses wey move money go Sonic network, borrow $2.64 million, then waka assets go back to Ethereum. Credix confirm say dem get breach, shut their website to stop more deposits, and tell users make dem withdraw through smart contracts. The platform promise say dem go recover all the money inside 24 to 48 hours. This DeFi hack show say multisig governance still get wahala and e show say we need strong smart contract audits and real-time monitoring.
Bearish
Di Credix hack fit likely cause bearish reaction because e go shake confidence wey people get for DeFi governance structures. For history, big exploits like Euler Finance and Poly Network hacks don cause immediate sell-offs for DeFi tokens plus network-wide panic spike. For short term, traders fit reduce how dem dey expose themselves to protocols wey get complex multisig setups, then move money go better established platforms. But Credix promise to recover funds inside 24–48 hours fit reduce some selling pressure. For long term, dis incident fit make demand for better security solutions, audit services plus insurance products go increase, but overall, DeFi fit face more regulatory scrutiny and slower capital inflows until the governance models prove say dem dey more resilient.