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PeckShield Reports $4.5M Loss Following CrediX_fi Admin Account Breach

According to PANews and PeckShield, a hacker exploited CrediX_fi's administrator account on August 4, using the BRIDGE privilege to withdraw and lend assets, causing a $4.5M loss and minting uncollateralized acUSDC tokens.

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Summary

On August 4, PANews reported that, according to PeckShield, CrediX_fi was breached when a hacker exploited the administrator account (0xF321683831Be16eeD74dfA58b02a37483cEC662e) using its BRIDGE privilege to withdraw and lend pool assets, resulting in an approximate $4.5M loss and the minting of uncollateralized acUSDC (Credix Market Sonic USDC) tokens.

Terms & Concepts
  • BRIDGE privilege: A special authorization that allows an account to transfer or manage assets between pools, often exploited in breaches.
  • acUSDC tokens: Tokens minted without collateral, representing a digital version of USDC, here linked to Credix Market Sonic USDC.