CrediX Faces Exit Scam Allegations After $4.5M Exploit and Team Disappearance

CrediX, a decentralized lending protocol, has come under fire following a $4.5 million exploit and subsequent radio silence from its team. The project initially pledged to reimburse affected users but has since deactivated its social media accounts and halted all communications.

The abrupt shutdown fuels suspicions of an exit scam, a recurring nightmare in DeFi. Unlike protocols that transparently address breaches, CrediX offered no recovery roadmap or wallet transparency—hallmarks of legitimate projects navigating crises.

This incident underscores the persistent risks of smart contract vulnerabilities compounded by opaque governance. While hacks aren’t uncommon in DeFi, CrediX’s failure to deliver promised remedies or updates has eroded trust irreparably.