CrediX Team Vanishes Amid $4.5M Hack Suspicions, Sparking Rug Pull Speculation

The CrediX lending protocol on Sonic chain faces turmoil after its official X account was abruptly deleted, fueling theories that a recent $4.5M exploit may have been an orchestrated rug pull. On-chain analysts identified unauthorized minting of wrapped USDC, including a $2.64M flash loan attack on August 4.

Initial claims of smart contract vulnerabilities gave way to darker suspicions when the team disappeared after promising reimbursements within 24 hours. Blockchain traces show portions of the bridged ethereum funds already cycled through TornadoCash, while remaining assets remain under surveillance.

The project's sudden radio silence suggests either catastrophic operational failure or calculated exit. Market observers note the disappearance of access credentials without typical breach patterns points toward insider involvement in what may become a textbook case of DeFi governance failure.