Onchain researcher ZachXBT has reported the likely hacking of the Bahrain-based Rain cryptocurrency exchange for $14.8 million.
According to him, the incident occurred on April 29. On this day, suspicious withdrawals of BTC, ETH, SOL and XRP occurred from exchange wallets.
"The funds were quickly transferred to third—party exchanges and instantly exchanged for BTC and ETH," ZachXBT reported.
A few hours after the publication of ZachXBT, Rain representatives stated that the problem had been solved and customer funds were "fully accounted for and stored in a 1:1 ratio."
"As soon as we became aware of the incident, we isolated the problem and introduced additional controls to enhance our security. Rain Group has covered any potential losses resulting from this incident," the exchange said.
According to the statement, the platform continued operating activities in full.
Rain is licensed by the Central Bank of Bahrain, and last year received permission from the Abu Dhabi financial regulator to work as a provider of brokerage and depository services for virtual assets.
Recall that in January 2021, the exchange closed the Series B investment round for $ 110 million. It was headed by Paradigm and Kleiner Perkins.