DeFi Protocol CrediX Team Disappears After $4.5 Million Security Breach

The DeFi protocol CrediX is under scrutiny for a potential exit scam following a $4.5 million exploit. The team has reportedly disappeared from official channels after the incident, leaving users without refunds.

Details of the Incident

On August 4, CrediX experienced a security breach that led to the loss of $4.5 million from its liquidity pool.
Hackers exploited a compromised admin account to mint unbacked acUSDC tokens and drain assets.
The CrediX website remains offline, and the team's official X account was deleted.
Communications indicated an agreement with the attacker to return funds, but no follow-up was made post-incident.

Team's Disappearance

The team acknowledged the exploit and promised updates before going silent.
Stability DAO confirmed that CrediX's disappearance directly impacts users, particularly regarding integrated Metavaults.
Efforts are underway among affected projects to file a formal legal report to recover lost funds.

This incident reflects a broader trend, with crypto thefts totaling $2.7 billion in the first half of 2025, suggesting potential losses could reach $4.3 billion by year-end.