Key Notes
- CrediX may have pulled a fast one on its users by suddenly vanishing in what appears to be an exit scam.
- It had earlier claimed that it was under attack by a bad actor who took control of its system and made off with $4.5 million.
- Melania Trump’s MELANIA was once called out for tampering with the meme coin’s liquidity, a proof of high risk of rug pulls.
Decentralized lender CrediX may have pulled a fast one on its users as it suddenly vanished in what looks like an exit scam.
This happened just a few days after it reported losses totaling $4.5 million.
CrediX Moves From Exploit to Rug Pull
On August 4, the Solana-based
SOL
$175.1
24h volatility:
2.9%
Market cap:
$94.44 B
Vol. 24h:
$6.16 B
blockchain platform claimed it was under attack by a bad actor who took control of its system. CrediX assured users it was investigating the incident and would share details soon.
Peckshield also confirmed that Credix had suffered a “compromised admin account […] which has a number of roles, including POOL_ADMIN, BRIDGE, ASSET_LISTING_ADMIN, EMERGENCY_ADMIN, and RISK_ADMIN.”
Today’s @CrediX_fi hack is due to compromised admin account 0xF321683831Be16eeD74dfA58b02a37483cEC662e, which has a number of roles, including POOL_ADMIN, BRIDGE, ASSET_LISTING_ADMIN, EMERGENCY_ADMIN, and RISK_ADMIN.
And the BRIDGE role is abused to drain/borrow pool assets… https://t.co/JGuLmh8zWu pic.twitter.com/0jmAuvtcJv
— PeckShield Inc. (@peckshield) August 4, 2025
At the time, CrediX CEO Thomas Bohner and CTO Maxim Piessen were silent, which is not common among executives whenever there is a cyberattack.
Not long after, the platform posted an update, informing the public that it had reached an agreement with the exploiter. According to CrediX, the attacker agreed to return the funds within the next 24-48 hours.
He reportedly requested a payment from the CrediX treasury, likely around 10% of the stolen funds, similar to what is typical for whitehat hackers.
However, crypto enthusiasts have reasons to believe that CrediX has launched a rug pull on its users.
Blockchain security platform CertiK confirmed that the lender’s X account has suddenly gone inactive, and its website has remained offline.
The website initially went online on August 4, when the platform claimed that it suffered losses of $4.5 million.
Following the incident that resulted in a $4.4M loss, the @CrediX_fi team has disappeared.
X account is inactive, and the website hasn’t been brought back online since August 4. pic.twitter.com/ymWoupVaZL
— CertiK Alert (@CertiKAlert) August 8, 2025
What Really Is a Rug Pull?
Rug pulls are not a strange occurrence in the crypto space. It describes a situation where insiders drain treasuries or liquidity pools, then shut down the website, apps, or any medium of communication.
They abandon their social media channels to avoid investors. This results in an exit scam where those behind the project suddenly shut everything down and disappear with investors’ funds after promising big returns.
David Schwartz, Ripple Labs’ Chief Technology Officer, once explained that rug pulls occurs when key players in a project sell large amounts of tokens faster than investors reasonably expected.
In the meantime, it has not been ascertained that CrediX has launched a rug pull on its investors. Nevertheless, it is important for investors to demand transparency when dealing with crypto projects.
These investors usually fall victim to high returns and unrealistic promises.
MELANIA Accused of Rug Pull
Last April, the team behind MELANIA
MELANIA
$0.21
24h volatility:
0.3%
Market cap:
$148.84 M
Vol. 24h:
$6.05 M
, the meme coin linked to the First Lady of the United States Melania Trump, was called out for tampering with the meme coin’s liquidity. Many observers thought that their tactics followed a technique similar to a rug pull project.
In over 25 days, eight wallets had sold 6.72 million MELANIA tokens, worth $4.2 million, by adding and removing liquidity. This mix of transactions raised suspicions among investors of the token.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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