Blockchain detective ZachXBT suspects a hack of the Rain cryptocurrency exchange.
In a blog post, researchers shared speculation that Rain was likely hacked for $14.8 million on April 29. Rain is a cryptocurrency exchange and custodian serving the Middle East, Türkiye, and Pakistan.
ZachXBT claims that suspicious leaks have been detected from Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP) wallets. To prove his assumption, ZachXBT shared two addresses where the stolen funds were likely located.
However, ZachXBT emphasized that Rain has not made any statement regarding this incident.
“Rain is currently not making any statement regarding the incident.”
Blockchain Detective, ZachXBT
Last month, decentralized cryptocurrency exchange FixFloat became the victim of an exploit that resulted in approximately $2.8 million being withdrawn from hot wallets.
Suspicious accounts also received additional funds via ETH, USDT, WET, DAI, and USDC. To prevent issuer assets from being frozen, stablecoins USDT and USDC were quickly converted to ETH through several decentralized exchanges.
Despite recent security exploits, cybercrime losses in April were the lowest on record since 2021. According to CertiK, cryptocurrency projects lost a total of $25.7 million last month.
There were 11 cases of private key leakage, which is one of the main causes of hacking projects, a 141% decrease compared to March.