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CrediX Rug Pull? Website Offline, No Refunds After $4.5 Million Theft
CrediX Rug Pull? The team behind CrediX, a decentralized lending protocol, has allegedly vanished following a $4.5 million exploit, in what blockchain security firm CertiK now suspects to be a classic exit scam. The project’s X (formerly Twitter) account has gone inactive, and its official website has remained offline since August 4.
Exploit or Rug Pull?
Earlier this week, an attacker reportedly gained access to a privileged admin wallet and manipulated bridge roles to mint unbacked tokens, which were then used to drain liquidity pools. In response, CrediX disabled its front-end and warned users against making new deposits.
While the team initially promised user reimbursements within 24 to 48 hours, no updates have been posted, and withdrawal contracts remain unverified. The silence has raised serious red flags across the DeFi community.
Funds Traced but Not Recovered
Security analysts tracking the stolen funds revealed that assets were bridged from Sonic to Ethereum and are now sitting across a few select wallet addresses. Despite this traceability, no recovery effort has been officially launched.
Part of a Disturbing Trend
The CrediX incident now joins a growing list of DeFi exit scams, echoing DF Fintoch’s $32 million rug pull and Swamprum DEX’s $3 million disappearance in May 2023.
As DeFi continues to attract both innovation and fraud, the CrediX case underscores the ongoing risks of interacting with under-audited protocols. Investors are urged to stay vigilant and rely on verifiable security audits before engaging with decentralized platforms.
