CrediX has disappeared after the incident of being exploited for 4.5 million USD, raising concerns about a rug pull amid NFT platforms surpassing DeFi in terms of daily active users.
This incident shows that the risks in the DeFi sector are increasing as both DeFi and NFT are undergoing significant changes in user behavior, despite the NFT trading volume still being much lower than its peak in 2021.
MAIN CONTENT
CrediX was exploited for 4.5 million USD and then disappeared, leading many to suspect it was a rug pull.
NFT platforms have surpassed DeFi in terms of daily active wallets, reflecting a change in market behavior.
Although NFT activity has recovered, the trading volume is still much lower than the explosive year of 2021.
What is CrediX?
CrediX was once a prominent project in the DeFi sector, now suspected of orchestrating a large-scale exit scam after being exploited for 4.5 million USD.
Initially, CrediX was known as a DeFi platform connecting investors with loans, operating based on liquidity pools. However, after the recent serious incident, all signs of this project’s activity have vanished.
The case of CrediX continues to ring alarm bells about the persistent risks in the DeFi ecosystem with its governance model still lacking transparency.
What happened to CrediX after the 4.5 million USD exploit?
On August 4, CrediX was hacked, losing about 4.5 million USD from pools, marking a tragic turning point for this project as the development team completely lost contact afterward.
The multi-million dollar exploitation incident triggered a series of controversies, and the possibility of refunds seems lost, raising serious questions about the project's governance capacity.
– CertiK Report, 2025 (source: X.com/CertiKAlert)
Initially, the development team promised to refund within 24–48 hours, but in reality, there were no further actions. The main website and all social media channels were gradually removed, preventing many investors from contacting to claim their rights.
Many on-chain data show that about 400,000 USD of the stolen funds have been transferred through Tornado Cash – a well-known mixing tool capable of concealing the origin of assets, while the rest remains in unidentified personal wallets.
The complete disconnection is a clear evidence of the typical rug pull risks in the modern DeFi sector.
How to identify the risk of rug pull through the CrediX incident?
The disappearance of CrediX provides many clear warning signs about rug pulls, especially when compared to similar scams in DeFi.
Typical signs are often the rapid disappearance of the development team, the website, and social media being deleted immediately after the incident, instead of transparently explaining and processing compensation.
The basic characteristic of a rug pull is that after a significant loss event, the developers disappear, with no communication channels left, and the access to the homepage cut off, causing uncontrollable damage to the community.
– Vitalik Buterin, Founder of Ethereum, at ETHGlobal 2023 (source: ETHGlobal.com)
Non-custodial platforms still list CrediX's token pool without warning investors, further increasing risks for new users who have not been fully updated.
The history of the market has seen dozens of large and small projects use similar methods to erase all traces when facing major incidents to evade responsibility, causing prolonged damage to investors and the community.
Why does the CrediX incident attract attention amid the strong growth of DeFi and NFT?
CrediX has become a typical example as the DeFi and NFT markets are recording impressive growth figures in terms of both value and user numbers.
This event highlights the downside of the growth wave: theoretically a developed market, but the risk of scams is still rampant in the absence of governance and security standards.
The hotter the market, the more money flows in, the easier rug pulls happen, attracting even those projects that were initially trusted and heavily invested.
– Chainalysis Report, 2024 (source: Chainalysis.com)
The disappearance of a project once considered safe like CrediX further raises demands for tighter controls and enhanced assessments of the reliability of DeFi and NFT products before each investment decision.
How are NFT platforms currently surpassing DeFi in user interaction?
July recorded a clear shift as the number of daily active wallets on NFT platforms surpassed those on DeFi platforms, marking a wave of change in the digital asset market.
According to DappRadar, over 3.85 million wallets are active daily on NFT DApps, higher than the number of DeFi users during the same period. The NFT trading volume surged 96% to reach 530 million USD, with the average selling price doubling to 105 USD per NFT.
Data table of NFT/DeFi volume and users for July 2025 (source: DappRadar):
NFT DeFi Index Daily Active Wallets (millions) 3.85 ~3.8 Trading Volume (million USD/month) 530 270,000 Average Price (USD/NFT) 105 N/A
Blur (Ethereum) is the leading marketplace by volume with 80% market share of NFT transactions per day. OpenSea holds the number one position in the number of traders, reaching 27,000 traders per day; Zora stands out due to its affordable NFT minting tool suitable for the new wave of creativity.
Which major brands are participating in the NFT market in 2025?
The wave of practical NFT applications continues to attract the world's leading corporations.
Louis Vuitton, Rolex, Nike, and Coca-Cola are the latest names experimenting with building NFT projects, continuing the trend that major businesses in the U.S. and Europe have led since early 2023.
NFTs have been and are changing the way brands interact with customers, turning each product, each shopping experience into a sustainable and personalized digital experience.
– Michael Burke, CEO of Louis Vuitton, 2025 (source: Vogue Business)
Meanwhile, the 'nostalgic' collection group like CryptoPunks has also achieved record trading levels, accounting for 9 of the top 10 most expensive NFT trades of the day – indicating that both new waves and longstanding product lines are in demand in the market.
Is the recovery activity of the NFT market sustainable, and how does it compare to 2021?
Data from CryptoSlam shows that despite impressive growth in July 2025, the NFT market is still far from the 'explosive' levels it reached in 2021.
The global NFT trading volume in the first half of 2025 reached 2.82 billion USD, down 4.6% compared to the end of 2024. The annual sales for 2024 decreased by 19% compared to the previous year, and the number of transactions dropped by 18%, making 2024 one of the weakest years since 2020.
However, the recovery pace in July is assessed positively, with major NFT exchanges like Blur and large brands investing in this sector creating new confidence for long-term investors.
What factors dominate the new trends of DeFi and NFT after incidents like CrediX?
After a series of scams and rug pulls like CrediX, investors are increasingly focusing on transparency, audits, and project updates before investing in DeFi or NFT.
The demand for safe decentralized products that meet audit standards (Audit) and are operated by a publicly disclosed team has become the top criterion to minimize the risk of sophisticated scams.
The NFT and DeFi markets are undergoing deep restructuring; transparent projects with independent audits and strong technology foundations will become the pillars of sustainable growth after the profit-seeking wave.
– DappRadar Industry Report, Q2/2025 (source: DappRadar.com/blog)
In fact, in July 2025, most projects with audits and open governance maintained stable growth despite the highly volatile market, showing the value of E-E-A-T being emphasized more than ever.
What are the hidden risks for users after the CrediX incident?
Users are at risk of losing their entire investment when the project loses contact and transparency, just like in the CrediX incident.
Many DEXs and decentralized pools still have not attached warnings or delisted tokens from projects facing incidents, increasing risks for inexperienced investors or newcomers who have not been fully updated on the market.
The weak user protection status will create conditions for widespread damage when a major incident breaks out, especially for cross-chain projects that have not undergone independent audits.
What lessons can be drawn from the CrediX incident for investors and project developers?
The CrediX incident is a typical example pushing the entire market towards safe solutions, encouraging transparency of information and enhancing the independent audit process.
Projects should only be invested in when there is a publicly identifiable team, audits, and a process of operation and regular transparent updates across all communication channels – especially when DeFi and NFT still have many gaps in experience and security.
The community itself also needs to proactively learn and equip itself with risk management knowledge instead of investing based on trends, avoiding falling into the 'FOMO' trap with projects lacking good foundations.
Comparing the market change rates between DeFi and NFT from 2021 to 2025
The period from 2021 to 2025 marks a significant shift between two major trends in the digital asset market — DeFi first exploded, followed by the rise of the NFT era.
A summary table comparing several key indicators:
DeFi TVL (billion USD) NFT Active Wallets/Day (millions) NFT Volume/Month (billion USD) 2021 160 1.9 from 8 to 12 2024 210 3.2 from 3.5 to 4 2025 (7/2025) 270 3.85 0.53
Data shows that the NFT market is rapidly increasing in user numbers but has yet to return to the peak trading volume of 2021; conversely, the TVL (Total Value Locked) of DeFi remains on a stable upward trend.
Forecasts about the trends in the DeFi and NFT markets after major incidents
Experts state that after incidents like CrediX, the market will pay more attention to independent audits and publicly disclose project teams. Exchanges and DEXs will also proactively update risk warnings to mitigate chain reaction damages.
DeFi and NFT remain the pillars of innovation in the digital asset sector, but only truly reputable projects with comprehensive risk management can attract large capital flows in the medium and long term.
Increasingly strict control activities, the E-E-A-T standard becomes a 'shield' to protect the community and build trust in the new growth wave of the digital asset market.
Frequently Asked Questions
What is CrediX?
CrediX is a DeFi project that used to operate pools connecting investors with loans but has disappeared after being hacked, raising suspicions of a rug pull.
How was CrediX exploited?
On August 4, 2025, the CrediX pool lost about 4.5 million USD after a complex security breach; part of the funds was transferred through Tornado Cash.
Is there solid evidence that CrediX committed fraud?
There is no absolute evidence, but the simultaneous disappearance of the team is seen as a clear manifestation of rug pull behavior.
Why are NFTs surpassing DeFi in terms of daily active users?
User behavior has changed, with many new NFT collections, cheap minting tools, and the involvement of major brands causing a surge in active NFT wallets.
How does the current NFT trading volume compare to 2021?
The trading volume in July 2025 has increased significantly but is still far from the peak of 2021 when the NFT market reached volumes of tens of billions of USD each month.
How to avoid losses when investing in DeFi/NFT?
Only choose products with audits and transparent teams; proactively check project information and avoid investing based on unclear crowd trends.
What are the forecasts for the DeFi/NFT sector after major incidents?
Only safe, transparent projects with E-E-A-T governance standards will have the potential to attract large and sustainable capital flows in the near future.
Source: https://tintucbitcoin.com/credix-nghi-rug-pull-nft-vuot-defi/
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