Stability DAO Readies a 'Legal Report' After Disappearance of CrediX Team
Crypto Community in Shock as $4.5 Million Stolen from CrediX Decentralised Finance Protocol
In a shocking turn of events, the CrediX decentralised finance (DeFi) protocol suffered a massive exploit on August 4, 2025, resulting in the theft of $4.5 million worth of cryptocurrency. The hackers gained administrative control of CrediX's multisignature wallet and minted fake collateral tokens to drain real funds from the lending pools.
The incident was not due to smart contract bugs but a compromised admin access, raising concerns about the security measures in place. Following the exploit, the CrediX team disappeared, taking down their website and social media channels, leaving investors in a state of uncertainty.
Initially, the CrediX team had announced that they were negotiating with the exploiter to return the funds. However, they went silent and erased their presence, fueling suspicions of an exit scam.
Stability DAO Steps In
In a bid to recover the stolen funds, Stability DAO, a decentralised autonomous organisation (DAO), is working on filing a formal legal report to authorities. The organisation is also gathering evidence, tracing funds on-chain, and working alongside several firms, including Sonic Labs.
Stability DAO integrated with CrediX a week ago, viewing it as an additional yield opportunity. The organisation has $28 million in total assets, according to DefiLlama.
Funds Still Spread Across Wallets
The funds from the CrediX exploit are still spread across several wallets, making the recovery process complex. The blockchain security firm CertiK stated that the CrediX protocol's functions are now inactive.
The latest message from the CrediX team was sent on Telegram, stating that the protocol has been stolen. A security alert was issued to the 1,600 members in the CrediX official Telegram channel on Wednesday.
Investors Left in the Dark
The disappearance of the CrediX team and the lack of clear updates on the recovery process have left investors in the dark. Some onlookers described the episode as an example of why crypto users should be suspicious of DeFi protocols touting astronomical yields.
As the investigations and recovery efforts continue, the crypto community awaits updates on the status of the stolen funds and the fate of the CrediX protocol.
- The stolen $4.5 million from CrediX Decentralised Finance (DeFi) protocol were not the result of smart contract bugs, but a compromised admin access.
- Stability DAO, a Decentralized Autonomous Organization (DAO), is actively working to recover the stolen funds by filing a formal legal report to authorities and gathering evidence.
- The funds from the CrediX exploit are currently spread across several wallets, making the recovery process complex.
- CertiK, a blockchain security firm, has declared that the CrediX protocol's functions are now inactive.
- The CrediX team's disappearance and the lack of clear updates on the recovery process have left investors uncertain and suspicious about DeFi protocols with astronomical yields.
- Stability DAO has integrated with CrediX a week ago, viewing it as an additional yield opportunity, and reportedly possesses $28 million in total assets.
- The crypto community is closely following the investigations and recovery efforts, waiting for updates on the status of the stolen funds and the future of the CrediX protocol, which has been declared stolen.
