CrediX Hacker Returns $4.5M After 6-Day Heist – Is DeFi Negotiation the New Normal?
Main Idea
A hacker returned $4.5 million to CrediX after negotiations, highlighting a trend of white-hat recoveries in DeFi despite rising exploit losses.
Key Points
1. The CrediX hacker agreed to return $4.5 million after exploiting a multisig wallet vulnerability, with funds fully reimbursed by the CrediX treasury.
2. The exploit involved minting unbacked collateral tokens on the Sonic network, leading to a $2.64 million drain from lending pools.
3. DeFi protocols like GMX and ZKsync have successfully negotiated fund returns with hackers, offering bounties or legal amnesty in exchange.
4. Despite recovery efforts, 2025 saw $2.29 billion in net losses from crypto exploits, with wallet breaches accounting for $1.7 billion.
5. Immunefi CEO Mitchell Amador emphasized the importance of prevention over reactive measures, criticizing post-hack bug bounties as ineffective.
Description
The hacker behind the $4.5 million CrediX DeFi protocol exploit agreed to return stolen funds within 24 to 48 hours following successful negotiations with the protocol team. CrediX announced the agreement on social media , stating that the exploiter will receive compensation “ fully paid by the CrediX treasury “, while affected users receive airdrops of their asset shares. We have good news for our users. Reached succesfull parley with the exploiter who agreed to return the the funds within the ...
Latest News
- Nasdaq Healthcare Firm Cosmos Health Secures $300M for Ethereum Treasury Strategy2025-08-07 12:06:39
- Stablecoin Market Cap Soars 4.87% to $261B Following 22-Month Growth Streak2025-08-07 12:02:44
- Binance Charity to Airdrop $1.2M in BNB to Taiwan Flood Victims2025-08-07 11:25:20
- XRP Whale Flows Turn Negative as Large Holders Resume Distribution – XRP Price to Crash?2025-08-07 10:58:21
- Trump to Sign Order Opening 401(k)s to Crypto, Real Estate, and Private Equity – What It Means for You2025-08-07 10:51:17