CrediX Finance Go Offline After $4.5M Exploit
CrediX Finance, wey be Sonic-based DeFi protocol, dem comot am offline afta dem suffer exploit wey cost $4.5 million less than one month afta e launch. Di breach happen by 9:10 UTC and di team comot deposit option. Security firm CertiK talk say di attacker use bridge carry di stolen funds from Sonic network go Ethereum, spread di assets for three wallets. Dis kain incident show as multi-sig wallet get risk, wey cause over $3.1 billion loss for DeFi for first half of 2025. CrediX Finance don assure say dem go recover all di funds inside 24–48 hours. Traders suppose dey watch recovery update and wetin fit happen for liquidity.
Bearish
Di exploit wey happen for CrediX Finance fit cause bearish reaction small time because traders fit comot their money and dey sell the related tokens. Historically, DeFi hacks like the $610 million PolyNetwork waka in August 2021 and the $197 million Euler Finance hack for March 2023 cause price to fall sharply and liquidity go down. Even though CrediX Finance talk say dem go recover the money within 48 hours to make people believe again, pipo wey dey market dey usually dey careful after security wahala. For long term, better security fit make DeFi strong, but the first thing wey go happen na say e go spoil how pipo feel and how dem dey trade.