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Rain, a known cryptocurrency exchange may have been exploited about $14.1 million, on the 29th of April 2024. It was observed that lots of different cryptocurrencies were quickly transferred to suspicious wallets.
ZachXBT, a crypto analyst, made this observation public on the 13th of May 2024. And it emphasized that this possible exploitation happened on the 29th of April 2024. ZachXBT explained that Solana (SOL), Ethereum (ETH), Ripple (XRP), and Bitcoin (BTC) was transferred from Rain's wallet suspiciously.
It further explained that these suspicious funds transferred from Rain's wallet, were quickly exchanged for ETH and BTC, and were transferred to an Ethereum address and a Bitcoin address. About 1881 ETH, worth approximately $5.5 million was transferred to the Ethereum address.
And about 137.9 BTC, worth approximately $8.6 million was transferred to the Bitcoin address. While these suspicious transfers of funds of about $14.1 million, have been noticed in Rain's wallet, Rain hasn't made any announcements confirming that it was an exploitation.
That is really so massive . I am just hoping that it will not really have a negative effect on the exchange as I prayed
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