CrediX Hack Drains $4.5M, Exposes DeFi Multisig Risks
On August 4, 2025, the CrediX hack drained $4.5 million from the newly launched real-world asset lending protocol. The attacker gained admin and bridge roles in its multisig wallet days earlier. Exploiting governance flaws and a private key leak, they minted fake collateral tokens, borrowed $2.64 million and emptied the liquidity pool. CrediX has since taken the platform offline. Security firms CertiK and SlowMist traced the funds as they moved from Ethereum through Tornado Cash to the Sonic network. This breach pushes 2025 DeFi losses past $3.1 billion, led by the $1.46 billion Bybit exploit. Hacken warns that over 80% of H1 losses stem from access control failures. The firm advises real-time AI monitoring, stronger signer training and automated rule-based checks to secure multisig wallets. Traders should watch for further updates on protocol security and emerging AI-driven threat detection tools. As traders assess the impact of the CrediX hack, they should track protocol updates and security patches.
Bearish
The CrediX hack undermines trader confidence in DeFi protocols, driving short-term sell pressure on related assets. As security flaws in multisig wallets and governance controls come to light, traders may reduce exposure to similar projects and demand higher risk premiums. Market volatility is likely to spike as funds move out of vulnerable protocols. In the longer term, increased focus on AI monitoring and stricter access controls could restore trust, but adoption may lag as developers implement upgrades. Overall, the hack’s immediate effect is bearish, reflecting heightened caution and potential capital outflows.