CrediX Team Vanishes with $4.5M—Exit Scam or Elaborate Hack?

Another day, another crypto mystery—CrediX's team ghosted investors after a $4.5M 'hack.' Was it really a breach, or just a well-timed rug pull?

Behind the smoke and mirrors

The project’s sudden radio silence post-incident screams exit scam. No updates, no damage control—just vanished funds and a trail of furious Telegram messages.

DeFi’s trust problem strikes again

While CrediX promised 'secure lending,' it delivered a masterclass in how not to handle a crisis. Audits? Overrated. Transparency? Optional. Investor funds? Apparently disposable.

Bonus jab: At least traditional banks wait until quarterly reports to disappoint customers.

Security Firms Monitor the Hack

SlowMist reported that attackers gained access to CrediX’s multisig admin and bridge wallets six days prior to the exploit. This privilege allowed them to mint tokens as collateral and drain liquidity from the platform.

Stability DAO claims it has traced two CrediX team members through KYC information and is drafting a legal report. It is working with other impacted projects like Sonic Labs, Euler, Beets, and Trevee, and authorities to get back funds.

🚨 https://t.co/849ff6Hm5r has gone dark.

If you had funds in the @stabilitydao Metavaults, here’s what you need to know:

1️⃣ https://t.co/xumlL7Dbc7 has disappeared. Affected teams, including Sonic Labs, are working with legal + cybercrime authorities to recover funds.

2️⃣ A… pic.twitter.com/jtxiEzBjmi

The vanishing is part of a dark year for crypto investors, with $2.5 billion stolen from hacks and scams during the first half of 2025.

Also read: Cybercrime Group GreedyBear Ramps Up $1M in Crypto Heist