Another Sonic Blockchain Attack: CrediX Loses Hundreds of Thousands to Flash Loan Exploit

CrediX, a decentralized lending platform operating on the Sonic blockchain, has become the latest victim of a sophisticated hack. An attacker gained admin access to a multisig wallet, using it to exploit a $2.64 million flash loan, draining about $200,000 in liquidity.

🔐 CrediX’s website was immediately locked, deposits were paused, and the team began working with on-chain analysts. Investigations revealed the attacker had prepped the breach days in advance—gaining control over a key bridge function, minting uncollateralized USDC tokens and generating a self-serving loan.

💸 The attacker later transferred part of the funds to an Ethereum address, a move reminiscent of tactics used by North Korean hackers. The original funding came from Tornado Cash, a well-known mixer used to obscure transaction origins. In total, the hacker managed to mint around $4.5 million in fraudulent USDC tokens.

📉 Small Protocols Are Not Safe

CrediX is a small, early-stage project with only around 219 SOL in total value locked, focused on P2P lending built on Solana. The attack demonstrates that even minor platforms aren’t safe—a single security flaw is all it takes.

This incident follows other recent attacks on Sonic, including Vicuna Finance, which lost $700,000 in May due to a misconfigured oracle. The situation is stirring concerns about Sonic’s resemblance to its predecessor, Fantom, which was hacked for $200 million before rebranding.

📊 Sonic Faces Mounting Challenges

After initial hype, daily user activity on Sonic has dropped to about 20,000, and Total Value Locked (TVL) has plummeted from $1 billion to $439 million.

This latest breach once again raises concerns about the security of smaller DeFi protocols—even seemingly insignificant platforms can be prime targets for well-executed attacks.

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