CrediX Solana Exploit Dey Drain DeFi Liquidity via Admin Key
For August 4, CrediX wey be Solana-based DeFi lender suffer one big exploit after attacker comot multisig Admin and Bridge roles. Dem add di permissions through ACLManager six days before, e allow di hacker make collateral tokens straight from CrediX lending pool. Using these fake tokens, di attacker borrow assets come drain di protocol liquidity. SlowMist first alert say breach happen. For response, CrediX comot im website make e no dey accept new deposits and start investigation. Di team tell users say all funds dey safe and dem fit access am through smart contracts. Dem dey expect make everything recover for 24 to 48 hours. Di CrediX exploit show di risk wey dey for DeFi protocol governance and smart contract security.
Bearish
Di exploit dey shake confidence for DeFi security and Solana-based protocols. When liquidity drain happen, traders dey quickly sell the affected tokens as dem dey run comot from risk, e dey put pressure for SOL and related assets to dey go down. Similar tins don happen before like the Wormhole hack and other DeFi platform breach dem weh cause short term price drop and make market dey cautious. Even though better governance and security fit make people dey calm down for long term, the immediate reaction go likely be bearish as investors go dey consider again the risk wey dey for platforms wey get admin key vulnerability.