Rain crypto exchange reportedly hacked for $15m

Main Points:

  • ZachXBT suspects a hack on the Rain cryptocurrency exchange.
  • Recent security exploits on cryptocurrency exchanges.
  • Decrease in cybercrime damage in April.

ZachXBT Suspects Hack on Rain Exchange

Blockchain investigator ZachXBT has raised concerns about a possible hack on the Rain cryptocurrency exchange, suggesting a loss of $14.8 million on April 29. Suspicious outflows were detected from Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP) wallets, with stolen funds likely located in specific addresses. Despite this, Rain has yet to release an official statement regarding the incident.

Recent Security Exploits on Cryptocurrency Exchanges

Last month, decentralized exchange FixedFloat fell victim to an exploit resulting in a $2.8 million withdrawal from its hot wallet. Additional funds were received through various tokens like ETH, USDT, WET, DAI, and USDC, prompting quick conversions to ETH to avoid asset freezes. Despite these incidents, the overall damage from cybercrime in April was the lowest since 2021, with a total loss of $25.7 million across cryptocurrency projects, primarily due to compromised private keys.

Decrease in Cybercrime Damage in April

According to CertiK, the damage from cybercrime in April saw a significant decrease of 141% compared to March. With only 11 cases of compromised private keys, this reduction underscores a positive trend in enhancing security measures within the cryptocurrency space.

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