Bitcoin

ZachXBT

April

USDC

Blockchain sleuth ZachXBT suspects a hack on the Rain cryptocurrency exchange. 
In a <a href="https://t.me/investigations/122" target="_blank" rel="">blog post</a>, the researcher shared his speculations, suggesting that Rain was likely hacked for $14.8 million on April 29. Rain is a cryptocurrency exchange and custodian that serves the Middle East, Turkey, and Pakistan. 
ZachXBT claims that suspicious outflows were detected from their Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="">BTC</a>), Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="">ETH</a>), Solana (<a href="https://crypto.news/price/Solana/" target="_blank" rel="">SOL</a>) and Ripple (<a href="https://crypto.news/price/xrp/" target="_blank" rel="">XRP</a>) wallets. ZachXBT shared two addresses where the stolen funds are likely located to prove the assumptions. 
However, ZachXBT stressed that, at the moment,&nbsp;Rain has not yet made any statements regarding the incident. 
<blockquote class="wp-block-quote"> 
 “As of now Rain has yet to make any statement about the incident.” <cite>ZachXBT, blockchain sleuth</cite>
</blockquote> 
Last month, decentralized cryptocurrency exchange FixedFloat <a href="https://crypto.news/tether-fixedfloat-hack-block/" target="_blank" rel="">became</a> the victim of an exploit that resulted in the withdrawal of approximately $2.8 million from its hot wallet. 
The suspicious account also received additional funds via ETH, USDT, WET, DAI, and USDC. To avoid issuer asset freezes, <a href="https://crypto.news/tag/stablecoin/" target="_blank" rel="">stablecoins</a> <a href="https://crypto.news/price/tether/" target="_blank" rel="">USDT</a> and <a href="https://crypto.news/price/usd-coin/" target="_blank" rel="">USDC</a> were quickly converted into ETH through several decentralized exchanges. 
Despite the recent security exploit, April’s damage from cybercrime was the <a href="https://crypto.news/certik-damage-from-hacks-scams-reaches-lowest-level-since-2021/" rel="">lowest</a> on record since 2021. According to CertiK, cryptocurrency projects lost a total of $25.7 million last month. 
The figure decreased by 141% compared to March, with 11 cases of compromised private keys, one of the main reasons for hacking projects. 
 You might also like: <a href="https://crypto.news/ai-trading-platform-suffers-exploit-hackers-make-off-with-157k/" rel=""> AI trading platform suffers exploit, hackers make off with $157k </a>

ZachXBT: Rain crypto exchange reportedly hacked for $15m

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