CrediX Team Goes Silent Following $4.5 Million DeFi Hack as Community Fears Grow

The team behind CrediX, a decentralized finance platform, has seemingly disappeared following a $4.5 million hack earlier this week.

Blockchain security firm CertiK reported Friday on X that the CrediX team “has disappeared", with the project’s official X account inactive and its website remaining offline for four consecutive days.

The security breach on Monday saw an attacker bridge $4.5 million in crypto to Ethereum from the Sonic-based protocol.

Despite initial assurances from SonicX that “all funds will be recovered in full” within 48 hours, there has been little follow-up or clarity.

The most recent communication from CrediX appears to be a security alert posted in its Telegram group to roughly 1,600 members on Wednesday

“Fam, we deeply regret to inform you that our protocol has been stolen. We are investigating the exploit and will keep you updated on next steps.”

On the same day, Stability DAO, another protocol powered by Sonic, stated on X that it had received confirmation from CrediX that the stolen funds were recoverable.

Stability DAO's so-called Metavaults—which offers yields of up to 287% in annual yield—was also affected by the exploit.

Just a week prior, Stability DAO had integrated with CrediX, touting it as a new yield opportunity, with the platform currently holding $28 million in assets according to DefiLlama.

By Thursday, a Stability DAO representative informed the community via Discord that CrediX had “gone dark and disappeared” and it is preparing to file a formal complaint with authoriteis in hopes of recovering lost funds.

The community rep, “GodInMaking,” said they have know-your-customer (KYC) information for two CrediX team members which will be included in the report, while efforts continue to collect additional evidence and trace stolen funds on-chain, in collaboration with Sonic Labs and other partners.

The CrediX incident has sparked debate on social media over the risks of DeFi protocols who promise high yields.

“Sad story for people who trusted the high APR. Metavaults are always risky.”