Cryptocurrency Exchange Grinex Ceases Operations Following $13 Million Cyber Heist

A prominent cryptocurrency exchange, Grinex, has suspended its services after falling victim to a sophisticated cyber attack, resulting in the theft of approximately 1 billion rubles, equivalent to $13 million. The breach was disclosed by the exchange via its Telegram channel and official website, with indications suggesting the involvement of state-sponsored actors from hostile nations. According to Grinex, the nature and scale of the attack imply an unprecedented level of technological expertise and resources, typically reserved for state-affiliated entities. The exchange, originally operating as Garantex, was sanctioned by the US, UK, and EU for allegedly enabling users to circumvent restrictions through a ruble-backed stablecoin called A7A5. This token facilitated cross-border transactions when Russia's access to the Swift inter-bank messaging system was suspended following its invasion of Ukraine. After being taken offline, the platform re-emerged as Grinex. The temporary cessation of trading has left users without access to their funds, pending an investigation. Furthermore, access to the company'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 drained funds being in the form of USDT on the TRON blockchain.