CrediX Team Disappears Following $4.5 Million Exploit and Inactivity
The decentralized lender CrediX has disappeared following a $4.5 million exploit. Key points include:
- Team's disappearance occurred days after the hack on August 4.
- CrediX's X account is inactive and website is offline.
- The exploit involved a compromised admin wallet and misuse of bridge roles, enabling the minting of unbacked tokens and draining of liquidity pools.
- Funds were moved from Sonic to Ethereum across several addresses by the attacker.
- CrediX initially promised reimbursements within 24-48 hours but failed to implement a recovery plan.
- In 2025, the total losses to hacks and scams in crypto have reached $2.5 billion.