A prominent cryptocurrency exchange, Grinex, has halted all operations after disclosing a massive cyber attack that resulted in the theft of approximately 1 billion rubles, equivalent to $13 million. The exchange revealed the breach via its Telegram channel and official website, attributing the attack to state-sponsored actors from 'hostile nations' due to the high level of coordination and technical expertise displayed. According to Grinex, preliminary findings suggest the attack was designed to directly undermine Russia's financial autonomy. The exchange, previously known as Garantex, was sanctioned by the US, UK, and EU for allegedly helping users circumvent restrictions through a ruble-backed stablecoin called A7A5, which enabled cross-border transactions after Russia's access to the Swift system was severed following its invasion of Ukraine.
Following the sanctions, the platform reemerged as Grinex. The suspension of trading activities has left users without access to their funds, pending an investigation. Additionally, access to the company's Moscow office has been restricted.
Grinex has released a list of 54 affected wallet addresses, with most of the stolen funds being in the form of USDT on the TRON blockchain.