The financial credit team lost after $ 4.5m Defi exploit, stability of DAO step in

The team behind Decentralized Finance (DEFI) Protocol Credix Finance seems to have disappeared following a $ 4.5 million exploitation that drained funds from the platform, raising the suspicions of an exit scam.

On Monday, blockchain security firms issued an exploitation and determined that crypto assets worth $ 4.5 million were obtained from the platform. In response, the Defi Protocol stopped its website to prevent users from depositing more funds.

Blockchain Security Firm Slowmist write Six days before the exploitation, the attacks were accessible to the Multisig admin and the protocol bridge. Accessing was used to mint crypto used as collateral to drain the pools of the defi protocol.

On Friday, the official X account of the platform went It’s dark. Its website has remained Offline from Monday, when the exploitation occurred. The company’s official account of the company is also lost, without further announcements.

Defi Protocol disappeared after promised reimbursements

In a non -accessible x post, the financial credentials Says On Tuesday that it had Convinced the exploitative to restore funds In the next two days in exchange for the money paid by the protocol treasury.

The company said it could fully pay its users for funds lost from the hack by an airdrop.

“The successful parley was reached with the exploitely agreed to return the funds within the next 24-48 hours in exchange for the money fully paid by the Credix Treasury,” Credix said.

However, since then, the company has been silent, all its official platforms have been removed.

Related: Top 100 Defi Hacks: Offchain Attack Vectors provide 57% of losses

DAO stability to name two members of Credix Finance

Decentralized Autonomous Organization Stability DAO announced To its users it is preparing a formal legal report. According to the DAO team’s stability, it contacted the affected teams, including sonic labs, eulers, beets and trevee (previously protocol ring).

They will work with the authorities, hoping to recover the lost funds. “Our teams are working to gather all the evidence, trace funds and interact with the with -the -legal and cybercrime units,” the DAO team stability.

DAO said it would share a full report of the community incident, outlining what happened and what steps were taking. The DAO also said it got Credix KYC for two of their team members and to be added to the legal report.

Trevee Says The hack was not directly affected by the $ 1.6 million scusd loan on the metaus of stability, which became fully exposed to the Credix after a bank run.

The team said it cut off its exposure to more than $ 700,000. In response, the protocol was placed on the minin of its stkscusd asset and set a new backing price.