CrediX Finance Disappears After $4.5M DeFi Hack
CrediX Finance experienced a $4.5 million DeFi exploit on August 4, when attackers gained control of its multisig admin and bridge wallets, minted tokens as collateral, and drained liquidity pools. The protocol paused deposits and announced negotiations with the exploiter, promising reimbursements within 24–48 hours. However, on August 5, CrediX Finance went dark after security firms CertiK and SlowMist flagged a likely exit scam: its website, X account and Telegram channel were deleted. Affected partners—including Euler (EUL), Sonic Labs, Beets (BEETS) and Trevee—are pursuing legal action. Stability DAO traced stolen funds, accessed KYC data for two team members and is preparing lawsuits. Trevee also disclosed exposure of a $1.6 million scUSD loan to Stability’s metaUSD. Law enforcement and cybercrime units are now involved. Traders should monitor recovery efforts, exit-scam investigations and conduct thorough due diligence before investing in unaudited DeFi projects.
Bearish
CrediX Finance’s abrupt disappearance and suspected exit scam undermine investor confidence in its token, likely triggering sell-offs and price declines. In the short term, panic selling may intensify as traders lose trust and exit positions. Long-term, the incident highlights security risks in unaudited DeFi protocols, prompting investors to favor more reputable platforms. Historical DeFi exploit cases show similar hacks lead to sustained bearish sentiment and reduced liquidity for affected tokens.