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{"actor":"system:backfill","investigation_id":"82a14206-d76d-4f7a-9032-b7a29cc18b54","kind":"publish","page_slug":"sunrayfinance","published_at":"2026-05-28T02:26:57.505Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"SUNRAY·FINANCE","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/btc-scammers-sunray-finance-crypto-sec","type":"other","url":""},{"credibility":3,"name":"https://www.cryptopolitan.com/malicious-smart-contract-causes-2-8m-in-sun-token-losses-on-arbitrum/","type":"other","url":""},{"credibility":3,"name":"https://olympixai.medium.com/sunray-finance-fire-token-and-onyxdao-drained-via-key-compromise-launch-time-burn-flaw-and-4a062046957d","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/sunray-finance-hack","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://smartcontractshacking.com/hacks/sunray-finance-hack-2024","type":"other","url":""},{"credibility":3,"name":"https://olympixai.medium.com/sunray-finance-fire-token-and-onyxdao-drained-via-key-compromise-launch-time-burn-flaw-and-4a062046957d","type":"other","url":""},{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/sunrayfinancemaliciousupgradeandtokenminting.php","type":"other","url":""},{"credibility":3,"name":"https://cryptorank.io/news/feed/9ce1e-malicious-smart-contract-causes-2-8m-in-sun-token-losses-on-arbitrum","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/sunray-finance-hack","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/btc-scammers-sunray-finance-crypto-sec","type":"other","url":""},{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/sunrayfinancemaliciousupgradeandtokenminting.php","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptorank.io/news/feed/9ce1e-malicious-smart-contract-causes-2-8m-in-sun-token-losses-on-arbitrum","type":"other","url":""},{"credibility":3,"name":"https://www.cryptopolitan.com/malicious-smart-contract-causes-2-8m-in-sun-token-losses-on-arbitrum/","type":"other","url":""},{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/sunrayfinancemaliciousupgradeandtokenminting.php","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/sunrayfinancemaliciousupgradeandtokenminting.php","type":"other","url":""},{"credibility":3,"name":"https://olympixai.medium.com/sunray-finance-fire-token-and-onyxdao-drained-via-key-compromise-launch-time-burn-flaw-and-4a062046957d","type":"other","url":""},{"credibility":3,"name":"https://cryptorank.io/news/feed/9ce1e-malicious-smart-contract-causes-2-8m-in-sun-token-losses-on-arbitrum","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cointelegraph.com/news/btc-scammers-sunray-finance-crypto-sec","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/sunray-finance-hack","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/sunrayfinancemaliciousupgradeandtokenminting.php","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.quadrigainitiative.com/casestudy/sunrayfinancemaliciousupgradeandtokenminting.php","type":"other","url":""},{"credibility":3,"name":"https://smartcontractshacking.com/hacks/sunray-finance-hack-2024","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/single/sunray-finance-hack","type":"other","url":""}]}],"sources_used":[],"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.","timeline":[{"date":"2024-09-17","event":"SUN token launches on Arbitrum at approximately $7, with trading beginning on the Sunray Finance DEX.","source":""},{"date":"2024-10-01","event":"SUN token price reaches approximately $10 as the protocol markets 299% annual yield and alleged SoftBank backing.","source":""},{"date":"2024-10-30","event":"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.","source":""},{"date":"2024-10-31","event":"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.","source":""},{"date":"2024-11-01","event":"Sunray Finance team reports contacting Binance security team for recovery assistance. No further updates issued to the public afterward.","source":""},{"date":"2024-11-30","event":"Sunray Finance website goes offline. No recovery or user reimbursement announced.","source":""}]},"v":1}