CertiK, a renowned blockchain analytics company, has raised an alarm about the sudden disappearance of the team behind CrediX Finance. According to a post on its official X account on Friday, CertiK said that since four days ago, the online presence of the project team has been down.
As of press time, the official X handle of CrediX is inactive and its website went offline shortly after the attack. Additionally, the Telegram account of the project no longer exists and it has refused to communicate with customers.
The development has raised serious concerns that the exit could be scandalous considering how the project just suffered a security breach that claimed $4.5 million. Recall that on Monday, reports surfaced that CrediX suffered an exploit that caused it to suspend deposits and withdrawal options.
Meanwhile, SlowMist reported that six days before the attack, the hackers gained access to the multisig admin and bridge wallets of the protocol. After gaining access, the attackers minted new crypto as collateral to drain the liquidity pool of CrediX.
Shortly after the attack, CrediX Finance took to its now inactive X page to assure full reimbursement to users. The platform stated that it has reached an agreement with the hacker to pay a certain amount for the stolen funds.
Furthermore, the project team said that in the next two days, the hacker will return the missing assets. CrediX assured that once it received the funds, it would airdrop them to affected users.
Surprisingly, the decentralized finance platform has remained silent ever since and has disabled all means of communication.
Stability DAO accuses CrediX of exit scam, threatens legal action
However, the move has triggered legal actions from investors who suspected the whole incident to be an exit scam. One of them, Stability DAO, a decentralized autonomous organization, revealed plans to launch a legal response to the sudden disappearance of the project team.
The DAO discussed how it contacted other affected investors like Sonic Labs, Euler, Beets, and Trevee (formerly Rings Protocol). With their synergy, Stability DAO is confident that it will reclaim the missing funds.
If the claims are true, CrediX joins the list of projects that went down as exit scams. In May 2023, DF Fintouch which claims close ties to Morgan Stanley carted away $32 million worth of users’ deposits.
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