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By Oliver Knight|Edited by Parikshit Mishra
Updated Aug 8, 2025, 12:46 p.m. Published Aug 8, 2025, 12:41 p.m.
- The DeFi lender’s website and X account have been offline since Aug. 4.
- The breach involved a compromised admin wallet and bridge abuse, enabling the minting of unbacked tokens and draining of liquidity pools; stolen funds were bridged from Sonic to Ethereum.
- The incident adds to a grim 2025 for crypto investors, with $2.5 billion lost to hacks and scams in the first half of the year.
The team behind decentralized lender CrediX has vanished days after a $4.5 million exploit, leaving its X account inactive and website offline since Aug. 4, according to blockchain security firm CertiK.
The sudden disappearance has sparked fears of an exit scam, which is when developers abandon a project and investor funds without warning.
STORY CONTINUES BELOW
The $4.5 million loss has been tied to a compromised admin wallet and abuse of bridge roles, which allowed an attacker to mint unbacked tokens and drain liquidity pools.
The exploiter moved funds from Sonic to Ethereum, parking them across a handful of addresses. In the hours after the attack, CrediX promised to reimburse users within 24-48 hours and directed withdrawals through contracts, but the front end never returned and no recovery plan has been published.
The exploit and perceived exit scam marks another tough day for crypto investors in 2025, with the total amount lost to hacks and scams totaling $2.5 billion in the first half of this year.
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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4 hours ago
Humanity Protocol’s $1.1B-valued mainnet uses zkTLS to link Web2 credentials with Web3 services while keeping user data private.
What to know:
- Humanity Protocol, valued at $1.1 billion, fired up its mainnet to connect Web2 credentials with Web3 services using zero-knowledge transport layer security (zkTLS).
- zkTLS enables users to verify credentials like loyalty status or academic qualifications without revealing the underlying documents, avoiding biometric data collection.
- At first, “Human ID” is supporting airline, hotel, financial and educational credentials, with future plans spanning on-chain ticketing, decentralized governance and Sybil-resistant platforms.
