Grinex Exchange Suspends Operations Following $13 Million Cyber Heist

A prominent cryptocurrency exchange, Grinex, has halted all operations after falling victim to a sophisticated cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The breach was disclosed by the exchange via its Telegram channel and an official statement on its website, attributing the attack to state-sponsored actors from hostile nations. According to Grinex, the nature and scale of the attack suggest an unprecedented level of technological expertise and resources, typically associated with state-affiliated entities. The exchange, which was previously sanctioned by the US, UK, and EU for its alleged role in enabling users to circumvent restrictions, stated that preliminary data indicates the attack was deliberately designed to undermine Russia's financial autonomy. Grinex, originally operating as Garantex, had been accused of facilitating the movement of funds through a ruble-backed stablecoin called A7A5, thereby bypassing restrictions. Following the suspension of its operations, users are currently unable to access their funds while the company conducts an investigation. Furthermore, access to the exchange's Moscow office has been restricted. A list of 54 affected wallet addresses, along with the corresponding amounts stolen, has been published by Grinex, with the majority of the losses occurring in USDT on the TRON blockchain.