Share this article
Crypto Exchange Rain Hit by $14.8M Exploit: ZachXBT
The hack occurred on April 29, ZachXBT said.
Updated May 13, 2024, 2:56 p.m. Published May 13, 2024, 2:53 p.m.
- Rain was hit by a $14.8 million hack at the end of April.
- The exchange's pro version has been intermittently down since May 5.
Bahrain-based crypto exchange Rain fell victim to a $14.8 million exploit, according to blockchain sleuth ZachXBT.
The stolen funds have been divided up into wallets containing 137.9 BTC and 1,881 ETH, both of which have been inactive since the exploit occurred on April 29.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"It appears the crypto exchange Rain was likely exploited for $14.8M on April 29, 2024 after their BTC, ETH, SOL, and XRP wallets saw suspicious outflows. Funds were quickly transferred to instant exchanges and swapped for BTC and ETH," ZachXBT wrote on Telegram.
The exchange's "pro" version, which is an advanced trading platform, has been intermittently down since May 5, according to Rain's website.
Rain obtained a license to operate a virtual asset brokerage and custody service in the United Arab Emirates in 2023.
Crypto investors lost $2 billion to hacks and exploits across the crypto industry last year. An additional $333 million was stolen in the first quarter of this year.
Rain did not immediately respond to CoinDesk's request for comment.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
