CrediX, a decentralized exchange that lets people trade synthetic digital dollars, USDC, without a middleman, has just suffered a serious hack. Attackers were able to steal around $4.5 million after gaining access to a compromised administrator account. As revealed , the account had access to some of the most powerful controls within the system. The event has triggered panic among investors and users. The protocol’s development team has yet to provide clear answers or a recovery plan. Hacker Fakes Tokens and Drains Millions from CrediX The exploit started when an attacker took over an admin account on CrediX. This account had very wide permissions across the platform. It could control pools, move assets, handle emergencies, and change risk settings. With this level of access, the attacker could carry out operations that usually need several approvals. The hacker was able to create a large amount of fake USDC tokens. For context, acUSDC is a made-up version of USDC that only works inside CrediX and it is not backed by real assets. The attacker then used the fake tokens to borrow real funds from the platform’s pools. After that, they moved the real assets out and stole funds that users had entrusted to the platform. This event has added to the growing list of 2025 DeFi security breaches. Website Goes Down, Investors Left Confused After the attack, CrediX quickly took down its website. The team advised users to bypass the standard site and use smart contracts directly to access their funds. This shows how serious the hack really was. The platform did not have backup systems in place to remove or limit the stolen permissions, so the developers were forced to take the entire interface offline. This situation has caused fear and confusion among users, many of whom are unsure about the safety of their assets. So far, the developers have not released any full explanation, audit report, or timeline for fixing the problem. As a result, investors are left with little information and growing doubts. Collapse of Trust in the Protocol The damage caused by this breach goes beyond the stolen funds. Trust in the entire CrediX protocol has been deeply affected. The acUSDC token, which played an important role in the platform, has lost its credibility since it was used to drain the pools without proper backing. Other tokens linked to CrediX, including those used for governance or utility, are also likely to lose value. Developers and users now question the safety of CrediX’s smart contracts. Experts said that the fact that one account was able to act with such power across different areas of the system shows a major design flaw. In decentralized finance , there is always risk, but this kind of setup creates a single point of failure that can bring down the entire platform if compromised. The post CrediX Loses $4.5M in Hack Due to Compromised Admin Account appeared first on TheCoinrise.com .
