A security breach at Rain Exchange has resulted in the loss of approximately $15 million worth of cryptocurrency. The exchange, which is regulated in the UAE and Bahrain, confirmed the incident earlier this year. While customer funds remain secure, the breach underscores the vulnerability of cryptocurrency exchanges to sophisticated cyber attacks. 🕵️♂️ The stolen funds were allegedly converted into Bitcoin and Ethereum to evade investigation. 🕵️♂️ 🚨 Legal authorities in the UAE and Bahrain are actively collaborating with Rain Exchange on their ongoing investigation. 🤝 This incident raises concerns about the challenges faced by regulated exchanges to protect user assets from increasingly sophisticated cyber threats. 🛡️ The breach comes after similar incidents involving major crypto exchanges like Crypto.com, which lost $15 million in a separate attack. 💰 This highlights the challenge of laundering stolen cryptocurrency assets using decentralized platforms. Experts suggest that while compliance measures can help protect user funds, they are often quickly laundered, undermining trust in centralized custodians. ⚠️ For further information, visit bitcoininfonews.com.