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  • Qadir AK
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    Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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CrediX Exploited After Attacker Gains Admin Rights

DeFi platform CrediX has suffered a major exploit after a hacker was added as a multisig admin and bridge controller six days ago. The attacker used their access to mint collateral and borrow large amounts, draining the projectโ€™s liquidity pool. In response, CrediX disabled its website to prevent any new deposits. This comes after CrediX had secured a $60 million credit line in 2023, highlighting the risks still facing DeFi protocols today.

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