SUNRAY·FINANCE
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score was recalculated from the page's findings, 44 → 45. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -8 |
| Incidents it suffered (e.g. hacks) | -9.6 |
| Problems around it, caused by others | -2.4 |
| Sum | 45 |
- 1 section set aside: the claims did not hold up in a fact-check, pending correction.
Score: 45/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 11 of 14 claims confirmed · 3 need better sources
anchored·2fMXjR…WB5XSummary
Sunray Finance was a perpetual-trading DEX protocol on Arbitrum that suffered a critical exploit on October 30, 2024, resulting in approximately $2.7–2.9 million in losses. An attacker — using what the team attributed to a compromised private key — upgraded the protocol's management contract and minted 200 sextillion SUN tokens, then swapped a portion for USDT before the token price collapsed to zero. The project website subsequently went offline with no confirmed fund recovery, and the protocol's pre-exploit marketing included unverified claims of SoftBank backing and unsustainable 299% annual yield promises.
Connected Entities
8 entities · 60 linked investigations- SUNRAY·FINANCE→mentioned with→Binance(70%)
- Across Protocol→mentioned with→Binance(70%)
- Across Protocol→mentioned with→Arbitrum(60%)
- Across Protocol→mentioned with→Ethereum(70%)
- SUNRAY·FINANCE→mentioned with→Across Protocol(60%)
- SUNRAY·FINANCE→mentioned with→Arbitrum(80%)
- SUNRAY·FINANCE→mentioned with→Tether(60%)
- SUNRAY·FINANCE→mentioned with→ZachXBT(70%)
- SUNRAY·FINANCE→mentioned with→Ethereum(60%)
- ZachXBT→mentioned with→Ethereum(70%)
- + 8 more
Connected Through
7 shared actors · 586 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- □Binanceorganization
- □Arbitrumorganization
Timeline(6 events)
17 September 2024
SUN token launches on Arbitrum at approximately $7, with trading beginning on the Sunray Finance DEX.
October 2024
SUN token price reaches approximately $10 as the protocol markets 299% annual yield and alleged SoftBank backing.
30 October 2024
Attacker upgrades Sunray Finance management contract (0xb1bbe57f5c474996a84274f0078a2411e1a65b8a) and mints 200 sextillion SUN tokens, swapping approximately half for $2.1 million USDT. SUN token price collapses to zero. Separate arbitrage bot captures ~$560,000 ETH profit from a secondary liquidity pool.
31 October 2024
CoinTelegraph, Cryptopolitan, and other outlets report the exploit. Total losses confirmed at approximately $2.7–2.9 million. Sunray Finance team posts on social media claiming private key compromise and denying insider involvement.
November 2024
Sunray Finance team reports contacting Binance security team for recovery assistance. No further updates issued to the public afterward.
30 November 2024
Sunray Finance website goes offline. No recovery or user reimbursement announced.
Decision Log
- slot 464348653 · hash FfWQSd3ey9BwoXNTe2A52KTMsok4JrWZw3w5eaSyaiAK
- slot 464348648 · hash 9ScuLWAbFw4vSZisEYd9M9xQNmBYkL84mRwWxNHVEdLj
- slot 464348643 · hash 8vbbLTtcgSzQTvSph2TfFpF974KCy6AJ3upz1KuoVkKh
- slot 455360507 · hash ANtsBZRzwViTfJ648KbydH24TbU51xZ4JEPbS2baoPYA
- slot 422629060 · hash DYYmz6nb7dkdeKhcssTRaEAwESDYLhSVQhTaKsE9Dz57
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 5 of 7 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:28 AM
last updated: 11/2/2026, 3:44:36 AM
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