Rain Exchange Assures Safe Customer Funds Following a $14.8M Exploit Revelation

• ZachXBT points out an exploit on Rain exchange that stole $14.8 million in Bitcoin, Ethereum, Solana, and XRP.
• The exploit possibly happened on April 29 and the stolen funds were immediately transferred into 2 wallets.
• Rain updates that the issues were solved and the customer fund is safe.

According to a recent revelation by crypto sleuth ZachXBT, the prominent Middle Eastern cryptocurrency exchange, Rain, was “likely exploited” on April 29 for $14.8 million. The sleuth reported that a suspicious flow of cryptocurrecies like Bitcoin, Ethereum, Solana, and XRP into two wallets has been identified.

In ZachXBT’s Telegram page, the researcher shared insights on the stolen funds from Rain, which were reportedly transferred into two wallets holding 137.9 BTC and 1,881 ETH. Both wallets remained inactive since they received the stolen funds. ZachXBT’s statement read,

“It appears the crypto exchange Rain was likely exploited for $14.8M on April 29, 2024 after their BTC, ETH, SOL, and XRP wallets saw suspicious outflows. Funds were quickly transferred to instant exchanges and swapped for BTC and ETH.”

However, Rain shared an official blog post in r…

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