The group behind decentralized lender CrediX has vanished days after a $4.5 million exploit, leaving its X account inactive and web site offline since Aug. 4, based on blockchain safety agency CertiK.
The sudden disappearance has sparked fears of an exit rip-off, which is when builders abandon a challenge and investor funds with out warning.
The $4.5 million loss has been tied to a compromised admin pockets and abuse of bridge roles, which allowed an attacker to mint unbacked tokens and drain liquidity swimming pools.
The exploiter moved funds from Sonic to Ethereum, parking them throughout a handful of addresses. Within the hours after the assault, CrediX promised to reimburse customers inside 24-48 hours and directed withdrawals by means of contracts, however the entrance finish by no means returned and no restoration plan has been printed.
The exploit and perceived exit rip-off marks one other powerful day for crypto traders in 2025, with the whole quantity misplaced to hacks and scams totaling $2.5 billion within the first half of this yr.