Incident Overview
Rain exchange experienced an exploit resulting in the loss of ~$14m
On April 29, 2024, the crypto exchange Rain was likely exploited, resulting in the loss of $14.8 million. Suspicious outflows from Rain's BTC, ETH, SOL, and XRP wallets were quickly transferred to instant exchanges and swapped for BTC and ETH. The stolen funds currently consist of 137.9 BTC and 1881 ETH.
Incident Report
Protocol Information
What the Attacker Needed to Succeed
Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.
What Auditors Should Check
If you're auditing a protocol with similar architecture to Rain, these are the critical security checks that could have prevented this incident (April 2024).
- Verify all logic paths related to Other are guarded by proper access controls and input validation
- Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs
Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.
Free TrialSecurity Audit History
- Audit Report 1 Report
Sources & References
Learn to Prevent the Next Rain
The Rain hack is one of many attacks that skilled auditors are trained to detect before deployment. Master real exploit patterns and defense techniques with hands-on Web3 security training.