Was CrediX an exit scam? Team goes dark after $4.4m exploit
After suffering a $4.4 million exploit, the CrediX Finance team went dark, suggesting a possible exit scam.
- CrediX Finance is suspected of being an exit scam after the team deletes website, social media
- Just days ago, the firm claimed that it had reached a settlement with hackers
- Users lost $4.4 million in potentially to scammers who run CrediX
After days of false promises following a $4.4 million exploit, the CrediX team has now gone dark. On Friday, August 8, blockchain security firm CertiK noted that the team deleted its X account, while the official website remains offline.
This comes just days after CrediX Finance claimed it was working to recover the stolen funds. On August 5, the team announced that it had reached a deal with the hacker, with an expected return of funds within 24 to 48 hours. However, no funds have been returned, and the team has since ceased all public communication.
Why CrediX might be an exit scam
On August 4, Coin Insider Daily reported on the CrediX Finance exploit, which resulted in losses of approximately $4.5 million. At the time, several blockchain security firms pointed to a compromise of CrediX’s multisig admin and bridge wallet as the likely attack vector. While it was initially unclear how the hackers obtained such high-level access, new developments suggest a different possibility.
The deletion of social media accounts and the website follows a known pattern often associated with exit scams. In these scenarios, project teams abruptly abandon their platforms and disappear with user funds.
Exit scammers often delay withdrawals or publish false updates in an attempt to buy time and extract more deposits from users. Once user trust is exhausted, the scammers vanish, leaving no way to recover the lost funds.
