The incident involving CrediX Finance, resulting in the loss of $4.5 million, has drawn attention from the crypto community. This event raises significant reflections on user trust in DeFi projects.
The Incident and Fraud Suspicions
On August 4, 2025, the crypto community learned about the disappearance of $4.5 million, raising suspicions of a rug pull scam. Sources report that the decentralized lender's website went offline, and its X account remained inactive.
Hacker Methods and Investigation Facts
According to CertiK's report, the incident began with the misuse of admin access, allowing the attacker to mint unsupported $S tokens, exchange them for liquid assets, and transfer funds via the Sonic to Ethereum bridge. Blockchain researchers have tracked the addresses holding the stolen tokens, but there is no movement.
Team Reaction and Investor Consequences
Initially, the project team promised reimbursements to victims within 24–48 hours, but to date, there have been no reimbursements or site restoration. This situation is characteristic of scams where initial promises are followed by complete communication blackouts. Experts suggest that the situation could be more complex, as the lack of action from the team makes proving malicious intent difficult.
The CrediX Finance incident serves as a reminder for investors to thoroughly review governance structures and administrative mechanisms before investing in crypto projects.
