04.08.2025 13:07

CrediX Finance, a recently launched decentralized finance (DeFi) protocol built on the Sonic blockchain, suffered a significant setback when a security breach resulted in a $4.5 million exploit. The incident, reported on Monday at 9:10 UTC, forced the protocol's immediate shutdown. This swift action was taken to prevent further user deposits and limit potential losses.

Following the exploit, the CrediX Finance website was taken offline. The breach allowed attackers to siphon off $4.5 million, according to reports. CertiK, a reputable blockchain security firm, tracked the stolen funds, confirming their transfer from the Sonic blockchain to Ethereum and their subsequent distribution across three separate wallets. The precise nature of the exploit remains under investigation.

Interestingly, multi-signature wallet compromises have emerged as a prevalent attack vector in the DeFi space. Statistics reveal that these breaches accounted for a staggering $3.1 billion in losses during the first half of 2025, highlighting the vulnerabilities inherent in this increasingly popular technology. This incident with CrediX underscores the ongoing challenges faced by the DeFi industry.

Despite the significant loss, CrediX Finance reassured its users via X (formerly Twitter), promising full recovery of all stolen funds within 24 to 48 hours. This pledge aimed to alleviate investor concerns and maintain confidence in the protocol's ability to rectify the situation and prevent future incidents. This incident serves as a stark reminder of the risks associated with participation in the DeFi ecosystem and the urgent need for robust security measures. The information was gathered from internet sources.