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CrediX Team Vanishes After Hack

CrediX $4.5M Exploit, Team Vanishes & DAO Response
Exploit Incident: On August 4, decentralized lender CrediX suffered a $4.5 million loss from an exploit where an attacker gained control of an admin wallet and abused bridge roles to mint unbacked tokens and drain pool assets. The stolen assets were bridged from Sonic to Ethereum and parked across several addresses. CrediX shuttered its front end and warned users against new deposits, while it promised full recovery within two days.
Team Actions: The CrediX team stated reimbursements would occur within 24–48 hours and directed withdrawals through contracts, but no detailed recovery plan was posted. Their last Telegram message on Wednesday read, “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.” Soon after, they deactivated their X account and took the website offline, ceasing communication.
Security Alert: Blockchain security firm CertiK alerted on Friday via a post that the CrediX team has disappeared in an apparent exit scam, noting the protocol’s inactivity and website offline for four days. Stability DAO, integrated with CrediX and affected by the hack, confirmed funds were recoverable on Wednesday but stated on Thursday that CrediX had gone dark; they are preparing a formal legal report to authorities, including KYC info for two CrediX members, and working with Sonic Labs to trace funds. Read More.
️ On today's Top Picks:
- ❌ BlackRock: No plans to file an $XRP or $SOL ETF.
- 🤝 Ripple $XRP & US SEC end legal battle.
- 🪂 SatLayer to close $SLAY airdrop registration on Aug 9th.
- 🔥 President Trump fires IRS Commissioner Billy Long.
Read time: ⏰ 4 minutes
Crypto News
• ⭐️ BlackRock $BLK says, "At this time, BlackRock does not have any plans to file an $XRP or $SOL ETF."; currently lists and trades $BTC & $ETH ETFs.
• ⭐️ Ripple $XRP & US SEC end legal battle following joint dismissal of appeals; July 2023 ruling that XRP secondary-market trades aren’t securities but institutional sales are stands as the final judgment.
• Coinbase $COIN launches DEX trading in its app; supports Base & Base assets with Solana $SOL support coming soon.
• Paxos to pay $26.5M fine over failures when it partnered with Binance on the BUSD stablecoin; to also put an additional $22M into improving its compliance program.
• Ethereum $ETH Foundation offers to match up to $500K in further donations to support Tornado Cash $TORN developer Roman Storm's legal aid.
Alpha
• Airdrop, Checkers, & Points by Olimpio.
• About $LINEA by Hawk Drops.
• Phi posts, "The ticker is $PHI... September 2025," on X; to potentially launch TGE & airdrop soon.
• ICYMI 1Money Network launches Public Testnet; 1Money raised $20M in Seed funding in January.
Airdrops
• ⭐️ SatLayer to close $SLAY airdrop registration on August 9th; SatLayer rewards program participants, SatLayer community members, & more are eligible.
• ICYMI Succinct launches $PROVE TGE & airdrop claim; Succinct community members, open-source developers, & more are eligible.
• ICYMI Towns launches $TOWNS TGE & airdrop claim; Towns users with activity between June 7th, 2024 & July 10th, 2025 are potentially eligible.
• ICYMI Airdrop, Checkers, & Points (July 28th) by Olimpio.
Finance News
• US President Trump appoints current Council of Economic Advisers Chair Stephen Miran to fill vacant seat on the Federal Reserve Board of Governors; succeeds Adriana Kugler who recently resigned.
• ⭐️ US President Trump fires IRS Commissioner Billy Long; Treasury Secretary Bessent to serve as IRS Commissioner temporarily.
• Two Seas Capital, the largest shareholder of Core Scientific $CORZ, to vote against CoreWeave's $CRWV proposed $9B all-stock acquisition of Core Scientific; cites low valuation and structural flaws.
• Block $XYZ reports Q2 2025 earnings; reports $2.54B in gross profit, $538.46M in net income, & adds 108 Bitcoin $BTC to its holdings.
Security and Exploits
• ⭐️ CrediX team goes dark after $4.5M exploit; deletes socials and takes website offline.
• ICYMI Arkham uncovers 127,426 Bitcoin $BTC (~$14.4M) heist from Lubian, a Chinese mining pool, in 2020; attacker may have exploited a vulnerability in the algorithm LuBian used to generate its private keys.
• ICYMI Google releases Android security updates patching multiple security vulnerabilities; includes two Qualcomm flaws being actively exploited in the wild.
Token Unlocks
• Immutable $IMX / ~$13M / AUG 08th
• Movement $MOVE / ~$7M / AUG 09th
• BounceBit $BB / ~$6M / AUG 11th
• io[.]net $IO / ~$8M / AUG 11th
• Solayer $LAYER / ~$17M / AUG 11th
• Aptos $APT / ~$53M / AUG 12th
Sourced from Tokenomist
Funding
• Perle raises $17.5M in Pre-Seed & Seed funding led by CoinFund & Framework Ventures.
• Euphoria raises $7.5M in Pre-Seed & Seed funding led by Robot Ventures, Figment Capital, & Karatage.
• Doppler Finance raises $3M in Seed funding led by Reforge.
• Levr Bet raises $3M in Seed funding led by Blockchain Capital & Maven 11.
• Hylo raises $1.5M in Seed funding led by Robot Ventures.
• Multiple Network raises an undisclosed amount in funding from Gate Labs, 071 Labs, & IBC Group.
• Cool Cats raises an undisclosed amount in Strategic funding from Animoca Brands.
• TradeTide AI raises an undisclosed amount in Seed funding from several investors.
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PROTOCOL | ASSETS | APY |
---|---|---|
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![]() | KPDUSDC | 35.00% |
![]() | AIDAUSDC | 28.12% |
![]() | EURCUSDC | 27.80% |
![]() | USDTUSDC | 23.79% |
![]() | USDC | 22.54% |
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That’s it for today’s edition! See you soon.
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