How much was lost in the CredixFinance hack?

The CredixFinance hack resulted in $26K in losses on November 21, 2023.

What attack technique was used in the CredixFinance exploit?

The CredixFinance exploit utilized Rugpull. Understanding this attack vector is critical for smart contract auditors and developers building secure DeFi protocols.

How can developers prevent similar smart contract attacks?

Preventing smart contract hacks requires a combination of secure coding practices, thorough security audits, and understanding common attack vectors like reentrancy, oracle manipulation, and access control flaws. Smart Contract Hacking (SCH) provides hands-on training to help developers and auditors identify and prevent vulnerabilities before deployment.

CredixFinance Hack

TOTAL LOST $26K

Low Nov 21, 2023 Rugpull

Affected Chain 2023 Incident surface

Recovered - No recovery reported

All-Time Rank #1855 By amount stolen

Protocol Type RWA Lending Target category

Incident Overview

Quick Summary

CREDIX token was rugpulled by scammer, depleting UniSwap liquidity pool and causing a loss of 25,564 USD.

Details of the Exploit

CREDIX is an ERC20 token trading on UniSwap. On Nov 21, 2023, the scammer performed a rugpull by swapping a significantly larger number of tokens, completely depleting the liquidity pool. The stolen funds were partially transferred to another EOA address, while the rest remains in the scammer's address.

Prior to the contract creation, the scammer sent 27.2 ETH to the token deployer. The total loss amounts to 25,564 USD, equivalent to 14.06 ETH.

Block Data Reference

Deployer Address:

https://etherscan.io/address/0xF23Ee455…E3bdF0

Scammer Address:

https://etherscan.io/address/0x45aF15b2…d7a448

Token Swap Transaction:

https://etherscan.io/tx/0xc4943319…145b60

Funds Holder as of Nov 22, 2023:

https://etherscan.io/address/0x674341FE…2827B5

Incident Report

Protocol / Project CredixFinance

Date of Incident November 21, 2023

Attack Technique Rugpull

Classification Token

Primary Source View Post-Mortem

Protocol Information

Protocol Type RWA Lending

Affected Token CREDIX

Official Website credible.finance/

Protocol Twitter/X @crediblefin

Team Anonymous

Source Code Verified On-Chain

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of rugpull and Solidity and EVM internals

Capital Required Seed capital to cover gas and initial position setup

On-Chain Access Ability to interact with smart contracts and deploy a custom exploit contract

Protocol Analysis Identification of the exploitable vulnerability in CredixFinance's contract logic - root cause: token

Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block

Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Hard to catch — private key / OpSec failures are outside smart contract audit scope

If you're auditing a protocol with similar architecture to CredixFinance, these are the critical security checks that could have prevented this incident (November 2023).

Verify all logic paths related to Rugpull are guarded by proper access controls and input validation
Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

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Sources & References

01
Source 1 https://twitter.com/PeckShieldAlert/status/1726890161903108415

Threat Assessment

Severity Level

LOW

Attack Vector Rugpull
Root Cause Token
Year 2023

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