The CrediX Finance team has disappeared from the web following a successful attack that drained $4.5 million. The incident raises concerns within the DeFi ecosystem.
Incident Overview
The DeFi platform CrediX Finance fell victim to a hack that resulted in the theft of $4.5 million. Attackers gained access to the protocol's multisig admin wallets and used this to mint new tokens, which were utilized as collateral to siphon liquidity from CrediX pools. These actions were flagged following alerts from blockchain security firms.
Promises of Fund Recovery
Before vanishing, the CrediX team made a statement claiming they had negotiated with the hacker to return the stolen funds. In the post, they stated that the hacker had agreed to return funds in exchange for payments from the protocol's treasury. However, this promise was not kept, and all official communication channels with the project disappeared.
Response from Stability DAO
The situation with CrediX drew the attention of Stability DAO, which identified two CrediX team members and began cooperating with other affected projects to recover stolen funds and coordinate with law enforcement and cybercrime units. Stability DAO announced its intentions to gather evidence and engage with relevant authorities.
The incident with CrediX highlights ongoing vulnerabilities within the DeFi ecosystem, particularly concerning multisig wallet security and the anonymity of teams, raising new questions regarding trust in such projects.
