On-chain crypto detective ZachXBT reported that Rain Exchange, a crypto exchange serving customers in the Middle East, had its assets, consisting of Bitcoin, Ethereum, Solana and XRP, exploited. According to the data, the value of the exploited crypto assets is $14.8 million.
The exploit likely took place on April 29. According to on-chain data, the exploiter transferred the stolen funds to 2 different crypto wallets.
Crypto exchange serving the Middle East has been exploited
According to on-chain data from ZachXBT, exploits took place on the popular crypto exchange Rain.
In a recent statement, ZachXBT, known as the crypto detective, suggested that Rain, a popular crypto exchange in the Middle East, has been abused. According to ZachXBT, the Rain exchange was exploited in cryptocurrencies such as Bitcoin, Ethereum, Solana and XRP. The person in question suspiciously transferred these assets to two wallets.
ZachXBT shared information that assets stolen from Rain were transferred to two wallets holding 137.9 BTC and 1,881 ETH. The crypto detective stated that both wallets have not been active since receiving the assets.
"The funds were quickly transferred to instant exchanges and exchanged for BTC and ETH," the crypto detective commented.
The crypto exchange stated that the issues have been resolved and all funds belonging to its customers are safe. In an official blog post, Rain reassured its customers. "This means that all your fiat currency and crypto assets are held with the highest security standards and regulatory compliance," the exchange said.
