Team from CrediX Disappears as Stability DAO Prepares 'Legal Document'
In a shocking turn of events, the CrediX decentralized finance (DeFi) protocol has been taken offline since an exploit on August 4, 2025, that resulted in the loss of $4.5 million. The core team behind CrediX has vanished without a trace, leading to strong suspicions of an exit scam.
The incident has left the protocol's website, official X account, and Telegram channel in darkness, with no recovery plan published despite initial promises to reimburse users within 24-48 hours.
The attack was not due to bugs or code flaws but was orchestrated by hackers who gained administrative access to CrediX’s multi-signature wallets, including roles such as pool admin and bridge controller. This enabled the attackers to mint fake collateral tokens and drain the liquidity pools by borrowing real cryptocurrencies against worthless tokens. The stolen funds were swiftly moved from the Sonic blockchain to Ethereum, split among several wallets. As of mid-August 2025, the hackers have not cashed out the stolen assets through exchanges.
The sudden disappearance of the CrediX team, suspending public communications and taking down their platform after initially assuring full fund recovery, has led the community and security analysts to view the event as a likely exit scam. This incident underscores risks from weaknesses in multi-signature wallet management in DeFi protocols and marks a significant blow to investor trust in the space.
Stability DAO, a firm that integrated with CrediX a week ago, is gathering evidence, tracing funds on-chain, and working with several firms, including Sonic Labs, to recover the stolen funds. A member of the Stability DAO team, GodInMaking, has noted that know-your-customer information had been obtained for two CrediX team members for the report.
CertiK, a blockchain security firm, has stated that the CrediX team has disappeared, and the protocol's website has been offline for four days. Stability DAO, which was affected by the incident, is preparing a legal report to file with authorities to recover the lost funds.
The latest message from the CrediX team, on Telegram, informed users that the protocol has been stolen and that they are investigating the exploit. However, no further updates have been provided regarding the recovery of the stolen funds.
This episode serves as a cautionary tale for crypto users, with some onlookers describing it as an example of why they should be suspicious of some DeFi protocols touting astronomical yields. According to crypto data provider DefiLlama, Stability DAO has $28 million in total assets, and its Metavaults, which offer up to 287% in annual yield, were affected.
As of August 16, 2025, CrediX remains offline with no active team, no transparent recovery efforts, and the stolen funds have not been returned or accessed publicly, reflecting a severe and unresolved crisis for the protocol and its users.
- The CrediX decentralized finance (DeFi) protocol, built on the Sonic blockchain, has been offline since an August 4, 2025, exploit resulted in a loss of $4.5 million.
- Hackers gained administrative access to CrediX’s multi-signature wallets, enabling them to mint fake collateral tokens and drain liquidity pools.
- The stolen funds were swiftly moved from the Sonic blockchain to Ethereum, split among several wallets, and have not been cashed out through exchanges as of mid-August 2025.
- Stability DAO, a firm integrated with CrediX, is gathering evidence, tracing funds on-chain, and working with several firms to recover the stolen funds.
- CertiK, a blockchain security firm, has stated that the CrediX team has disappeared, and the protocol's website has been offline for four days.
- This incident underscores risks from weaknesses in multi-signature wallet management in DeFi protocols and marks a significant blow to investor trust in the space.
- This episode serves as a cautionary tale for crypto users, highlighting the need for vigilance when investing in DeFi protocols promising high yields, as the CrediX incident has left the protocol offline, with no active team, no transparent recovery efforts, and the stolen funds unrecovered as of August 16, 2025.
