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CrediX Goes Silent After Exploit Deal, $4.5 Million Still Missing

Key Takeaways

  • ​CrediX Finance went offline after a $4.5 million hack, with all social channels going dark by August 8;
  • The platform claimed a deal with the hacker before disappearing, but no funds were returned;
  • Stability DAO is working with other affected teams and authorities to trace the stolen crypto.

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CrediX Goes Silent After Exploit Deal, $4.5 Million Still Missing

CrediX Finance, a decentralized lending platform, has gone silent after losing around $4.5 million in a major hack.

The issue was first flagged on August 4 by CertiK, PeckShield, and SlowMist, who said that attackers had accessed key wallets tied to CrediX Finance.

Following the incident, CrediX took its website offline and stopped all deposits. On August 8, its X account had stopped posting, and its Telegram group had also disappeared.

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Before vanishing, the platform claimed it had reached a deal with the person behind the exploit. In a now-deleted post, CrediX said, "Reached successful parley with the exploiter who agreed to return the funds within the next 24-48 hours in return for money fully paid by the CrediX treasury".

Meanwhile, Stability DAO, a decentralized group that was also affected, is working on a formal legal complaint. The DAO said it has been in touch with several other impacted teams, including Sonic Labs, Euler, Beets, and Trevee, to investigate what happened.

According to a statement, they are collecting evidence, tracking the stolen funds, and reaching out to the authorities.

Stability DAO also said it has access to identity documents for two members of the CrediX team, which will be included in the legal report.

On August 7, Koi Security reported that GreedyBear stole more than $1 million in cryptocurrency. How? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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