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SUNRAY·FINANCE

avoid.net/sunrayfinance→8/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]
anchored·2fMXjR…WB5X

Summary

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

1 entities
Protocols
⌂SUNRAY·FINANCE
Relationships
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    Timeline(6 events)

    2024-09-17

    SUN token launches on Arbitrum at approximately $7, with trading beginning on the Sunray Finance DEX.

    2024-10-01

    SUN token price reaches approximately $10 as the protocol markets 299% annual yield and alleged SoftBank backing.

    2024-10-30

    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.

    2024-10-31

    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.

    2024-11-01

    Sunray Finance team reports contacting Binance security team for recovery assistance. No further updates issued to the public afterward.

    2024-11-30

    Sunray Finance website goes offline. No recovery or user reimbursement announced.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chainsrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:28 AM

    last updated: 5/28/2026, 2:26:57 AM

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