08.08.2025 21:56
Following a significant cryptocurrency heist, the CrediX team has vanished, leaving users and investors reeling. The decentralized finance (DeFi) protocol suffered a $4.5 million exploit on Monday, triggering a chain of events that has culminated in the team's apparent disappearance.
CertiK, a reputable blockchain security firm, reported on X (formerly Twitter) that the CrediX team has become completely unresponsive. Their official X account is dormant, and their website remains offline for a fourth consecutive day, fueling speculation and concern among affected parties. The stolen funds, bridged to the Ethereum network, remain scattered across various wallets.
Initial assurances from SonicX, a related protocol, promising full recovery within 48 hours, now seem hollow given the current circumstances. The last communication from the CrediX team surfaced on Wednesday via a Telegram message to their 1,600-member community channel. This message, informally addressed as "Fam," confirmed the theft and promised further updates on their investigation – updates that have yet to materialize.
This incident also impacts Stability DAO, another DeFi protocol utilizing Sonic technology. Stability DAO, which integrated with CrediX just a week prior, announced on X that it had received initial confirmation from the CrediX team regarding the recoverability of the stolen funds. The integration offered users of Stability DAO access to CrediX's high-yield Metavaults, which offered returns as high as 287% annually. With approximately $28 million in total assets under management (according to DefiLlama), Stability DAO is now actively pursuing legal recourse.
A Stability DAO team member recently disclosed within their official Discord server that CrediX has effectively ceased operations and vanished. Consequently, Stability DAO is preparing to file a formal legal report with relevant authorities, initiating a formal investigation to retrieve the misappropriated funds. The entire situation highlights the inherent risks within the rapidly evolving DeFi space and underscores the importance of thorough due diligence before engaging with such platforms.
